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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $41.67.

Several equities research analysts recently issued reports on LENZ shares. TD Cowen started coverage on shares of LENZ Therapeutics in a report on Tuesday, March 18th. They set a “buy” rating and a $60.00 price target on the stock. Citigroup boosted their target price on shares of LENZ Therapeutics from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday.

LENZ Therapeutics Stock Performance

Shares of LENZ opened at $26.49 on Tuesday. LENZ Therapeutics has a 52-week low of $14.42 and a 52-week high of $38.93. The firm has a market cap of $728.50 million, a price-to-earnings ratio of -5.55 and a beta of 0.58. The business’s fifty day moving average is $24.15 and its 200-day moving average is $27.06.

LENZ Therapeutics (NASDAQ:LENZ) last released its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). As a group, research analysts forecast that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

Large investors have recently modified their holdings of the business. California State Teachers Retirement System increased its holdings in LENZ Therapeutics by 911.0% in the fourth quarter. California State Teachers Retirement System now owns 9,200 shares of the company’s stock valued at $266,000 after purchasing an additional 8,290 shares during the period. Delta Investment Management LLC bought a new stake in shares of LENZ Therapeutics in the 4th quarter valued at about $555,000. Rafferty Asset Management LLC acquired a new stake in shares of LENZ Therapeutics in the fourth quarter valued at about $511,000. Paradigm Biocapital Advisors LP acquired a new stake in shares of LENZ Therapeutics in the fourth quarter valued at about $22,243,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of LENZ Therapeutics by 14.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company’s stock worth $229,000 after acquiring an additional 1,005 shares during the last quarter. Institutional investors 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.