LENZ Therapeutics’ (LENZ) Buy Rating Reiterated at HC Wainwright

LENZ Therapeutics (NASDAQ:LENZ)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports.

A number of other equities analysts also recently weighed in on LENZ. Weiss Ratings raised LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Bank of America dropped their price target on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Citigroup cut their price objective on LENZ Therapeutics from $26.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. William Blair reaffirmed an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Finally, Wall Street Zen cut LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

LENZ Therapeutics Price Performance

NASDAQ LENZ opened at $5.60 on Tuesday. The company has a fifty day moving average price of $7.28 and a 200-day moving average price of $11.39. The firm has a market cap of $175.56 million, a price-to-earnings ratio of -1.56 and a beta of 0.62. LENZ Therapeutics has a 1 year low of $5.23 and a 1 year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.22). LENZ Therapeutics had a negative net margin of 519.30% and a negative return on equity of 46.82%. The firm had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.76 million. On average, research analysts anticipate that LENZ Therapeutics will post -4.61 EPS for the current fiscal year.

Institutional Trading of LENZ Therapeutics

Several hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in shares of LENZ Therapeutics during the 3rd quarter worth $27,000. State of Wyoming bought a new stake in LENZ Therapeutics in the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in LENZ Therapeutics during the fourth quarter valued at about $32,000. Osaic Holdings Inc. lifted its holdings in LENZ Therapeutics by 2,146.2% during the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock valued at $34,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in LENZ Therapeutics by 51.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares during the period. 54.32% of the stock is currently owned by institutional investors.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.