LENZ Therapeutics (NASDAQ:LENZ) Coverage Initiated by Analysts at Raymond James

Raymond James assumed coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $37.00 target price on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler reiterated an overweight rating and set a $36.00 target price on shares of LENZ Therapeutics in a research note on Thursday, August 15th. William Blair upgraded LENZ Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Finally, HC Wainwright started coverage on LENZ Therapeutics in a research note on Monday, August 12th. They set a buy rating and a $38.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $35.40.

LENZ Therapeutics Stock Performance

NASDAQ:LENZ opened at $24.04 on Friday. The company has a 50 day simple moving average of $22.89. LENZ Therapeutics has a 12-month low of $14.07 and a 12-month high of $29.82.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.09. Equities research analysts predict that LENZ Therapeutics will post -2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of large investors have recently modified their holdings of the business. RA Capital Management L.P. acquired a new stake in shares of LENZ Therapeutics in the 1st quarter valued at $93,313,000. Vanguard Group Inc. acquired a new stake in shares of LENZ Therapeutics during the 1st quarter valued at $4,621,000. Jennison Associates LLC acquired a new stake in shares of LENZ Therapeutics during the 1st quarter valued at $3,009,000. Ikarian Capital LLC acquired a new stake in shares of LENZ Therapeutics during the 1st quarter valued at $1,898,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LENZ Therapeutics during the 2nd quarter valued at $1,437,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

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.