LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Consensus Rating of “Moderate Buy” from Analysts

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $28.80.

A number of equities analysts have weighed in on LENZ shares. Zacks Research raised LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research note on Tuesday, July 7th. Citigroup reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th. Piper Sandler cut their price objective on LENZ Therapeutics from $12.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of LENZ Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 25th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Corient Private Wealth LP raised its holdings in shares of LENZ Therapeutics by 101.1% in the 2nd quarter. Corient Private Wealth LP now owns 74,931 shares of the company’s stock valued at $426,000 after purchasing an additional 37,672 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in LENZ Therapeutics during the second quarter worth approximately $102,000. Hsbc Holdings PLC raised its stake in LENZ Therapeutics by 264.5% in the second quarter. Hsbc Holdings PLC now owns 79,811 shares of the company’s stock valued at $449,000 after buying an additional 57,917 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of LENZ Therapeutics in the second quarter valued at approximately $1,138,000. Finally, Bank of America Corp DE bought a new position in shares of LENZ Therapeutics during the 2nd quarter worth approximately $1,451,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.

LENZ Therapeutics Stock Performance

LENZ opened at $5.11 on Monday. The stock has a market capitalization of $160.56 million, a P/E ratio of -1.25 and a beta of 0.65. LENZ Therapeutics has a 12 month low of $4.53 and a 12 month high of $50.40. The firm’s fifty day simple moving average is $5.29 and its 200 day simple moving average is $8.14.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.03. The firm had revenue of $5.49 million for the quarter, compared to the consensus estimate of $2.38 million. LENZ Therapeutics had a negative return on equity of 53.39% and a negative net margin of 586.74%. On average, equities research analysts predict that LENZ Therapeutics will post -4.18 EPS for the current fiscal year.

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.