LENZ Therapeutics (NASDAQ:LENZ) Stock Price Up 7.8%

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s stock price rose 7.8% on Friday . The stock traded as high as $22.29 and last traded at $22.26. Approximately 84,750 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 126,828 shares. The stock had previously closed at $20.65.

Wall Street Analyst Weigh In

LENZ has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a report on Thursday, August 15th. HC Wainwright assumed coverage on LENZ Therapeutics in a research report on Monday, August 12th. They set a “buy” rating and a $38.00 price objective for the company. Finally, William Blair raised LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $35.00.

LENZ Therapeutics Stock Up 5.9 %

The firm has a 50-day moving average price of $22.53.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. As a group, analysts predict that LENZ Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

Several large investors have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new position in LENZ Therapeutics in the 1st quarter worth about $93,313,000. Vanguard Group Inc. purchased a new position in LENZ Therapeutics in the 1st quarter worth about $4,621,000. Jennison Associates LLC purchased a new position in LENZ Therapeutics in the 1st quarter worth about $3,009,000. Ikarian Capital LLC purchased a new position in LENZ Therapeutics in the 1st quarter worth about $1,898,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in LENZ Therapeutics in the 2nd quarter worth about $1,437,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.