LENZ Therapeutics (NASDAQ:LENZ) Price Target Raised to $47.00

LENZ Therapeutics (NASDAQ:LENZ) had its price target increased by Citigroup from $44.00 to $47.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, TD Cowen assumed coverage on LENZ Therapeutics in a research note on Tuesday, March 18th. They set a “buy” rating and a $60.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $41.67.

LENZ Therapeutics Trading Up 0.7 %

Shares of NASDAQ LENZ opened at $26.49 on Thursday. LENZ Therapeutics has a 12 month low of $14.42 and a 12 month high of $38.93. The stock has a 50 day moving average of $24.15 and a 200-day moving average of $27.06. The company has a market capitalization of $728.50 million, a P/E ratio of -5.55 and a beta of 0.58.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Analysts predict that LENZ Therapeutics will post -2.18 EPS for the current fiscal year.

Institutional Trading of LENZ Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in LENZ Therapeutics by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock valued at $34,022,000 after purchasing an additional 59,630 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in LENZ Therapeutics by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company’s stock valued at $23,760,000 after purchasing an additional 374,326 shares during the period. Paradigm Biocapital Advisors LP acquired a new position in LENZ Therapeutics in the 4th quarter valued at $22,243,000. State Street Corp raised its holdings in LENZ Therapeutics by 18.7% in the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock valued at $6,865,000 after acquiring an additional 45,600 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in LENZ Therapeutics by 16.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company’s stock valued at $4,103,000 after acquiring an additional 20,000 shares in the last quarter. 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.