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

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $56.40.

Several research analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a report on Monday, December 15th. Zacks Research cut shares of LENZ Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Wall Street Zen raised shares of LENZ Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Versant Venture Management LLC purchased a new stake in LENZ Therapeutics in the 3rd quarter worth approximately $123,758,000. UBS Group AG grew its position in shares of LENZ Therapeutics by 30.8% in the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock worth $25,148,000 after buying an additional 370,122 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of LENZ Therapeutics by 3.0% during the third quarter. Vanguard Group Inc. now owns 1,330,286 shares of the company’s stock valued at $61,965,000 after buying an additional 39,292 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of LENZ Therapeutics by 108.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after buying an additional 585,000 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of LENZ Therapeutics by 86.7% during the fourth quarter. Franklin Resources Inc. now owns 1,096,334 shares of the company’s stock valued at $17,541,000 after acquiring an additional 509,250 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Stock Performance

Shares of LENZ stock opened at $11.67 on Monday. LENZ Therapeutics has a fifty-two week low of $11.48 and a fifty-two week high of $50.40. The stock has a 50 day moving average price of $15.41 and a two-hundred day moving average price of $27.01. The company has a market capitalization of $365.15 million, a P/E ratio of -5.53 and a beta of 0.52.

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.