Analysts Set LENZ Therapeutics, Inc. (NASDAQ:LENZ) Target Price at $35.40

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given an average rating of “Buy” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $35.40.

A number of equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Raymond James began coverage on shares of LENZ Therapeutics in a research note on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Parkman Healthcare Partners LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter valued at $3,308,000. The Manufacturers Life Insurance Company bought a new position in shares of LENZ Therapeutics during the 3rd quarter worth about $743,000. Bank of New York Mellon Corp grew its stake in shares of LENZ Therapeutics by 255.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock valued at $687,000 after buying an additional 28,556 shares during the period. Charles Schwab Investment Management Inc. raised its stake in LENZ Therapeutics by 197.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after buying an additional 81,901 shares during the period. Finally, State Street Corp boosted its holdings in LENZ Therapeutics by 18.7% in the third quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after acquiring an additional 45,600 shares in the last quarter. 54.32% of the stock is owned by institutional investors.

LENZ Therapeutics Trading Down 11.9 %

LENZ stock opened at $23.21 on Thursday. LENZ Therapeutics has a 1-year low of $14.42 and a 1-year high of $38.93. The business’s 50 day moving average is $32.37 and its 200-day moving average is $26.22.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same quarter in the prior year, the company earned ($1.33) EPS. On average, analysts forecast that LENZ Therapeutics will post -2.09 earnings per share for the current year.

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.