LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Recommendation of “Moderate Buy” from Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.40.

A number of equities research analysts have weighed in on LENZ shares. HC Wainwright reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Thursday, January 22nd. Zacks Research downgraded shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Finally, Raymond James Financial reissued an “outperform” rating and set a $50.00 price objective (up from $40.00) on shares of LENZ Therapeutics in a research report on Monday, October 20th.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $13.51 on Thursday. The company has a market capitalization of $422.73 million, a P/E ratio of -6.40 and a beta of 0.50. LENZ Therapeutics has a fifty-two week low of $12.76 and a fifty-two week high of $50.40. The stock has a 50-day simple moving average of $18.01 and a 200-day simple moving average of $29.48.

Insider Buying and Selling at LENZ Therapeutics

In other news, insider Shawn Olsson sold 10,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $26.10, for a total transaction of $261,000.00. Following the completion of the sale, the insider owned 4,733 shares in the company, valued at approximately $123,531.30. This represents a 67.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.90% of the company’s stock.

Institutional Trading of LENZ Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Group plc purchased a new position in shares of LENZ Therapeutics in the 2nd quarter valued at approximately $2,177,000. AlphaQuest LLC lifted its holdings in shares of LENZ Therapeutics by 56.2% during the second quarter. AlphaQuest LLC now owns 10,219 shares of the company’s stock worth $300,000 after purchasing an additional 3,675 shares during the period. Lisanti Capital Growth LLC lifted its holdings in shares of LENZ Therapeutics by 41.0% during the second quarter. Lisanti Capital Growth LLC now owns 36,185 shares of the company’s stock worth $1,061,000 after purchasing an additional 10,520 shares during the period. Geode Capital Management LLC grew its position in LENZ Therapeutics by 15.5% in the 2nd quarter. Geode Capital Management LLC now owns 416,122 shares of the company’s stock valued at $12,198,000 after buying an additional 55,730 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in LENZ Therapeutics by 63.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,130 shares of the company’s stock valued at $121,000 after buying an additional 1,605 shares during the period. 54.32% of the stock is owned by hedge funds and other institutional investors.

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.