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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $56.40.

LENZ has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of LENZ Therapeutics in a research report on Thursday, January 22nd. Piper Sandler boosted their target price on LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. HC Wainwright restated a “buy” rating on shares of LENZ Therapeutics in a research note 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. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price objective (up previously from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th.

Insider Activity at LENZ Therapeutics

In other news, Director James W. Mccollum acquired 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $22.79 per share, with a total value of $239,295.00. Following the acquisition, the director directly owned 10,500 shares in the company, valued at $239,295. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shawn Olsson sold 10,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $26.10, for a total value of $261,000.00. Following the completion of the transaction, the insider directly owned 4,733 shares of the company’s stock, valued at approximately $123,531.30. The trade was a 67.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LENZ Therapeutics

Several hedge funds have recently added to or reduced their stakes in LENZ. C WorldWide Group Holding A S bought a new stake in LENZ Therapeutics in the fourth quarter valued at approximately $8,000,000. UBS Group AG raised its holdings in LENZ Therapeutics by 30.8% during the 4th quarter. UBS Group AG now owns 1,571,738 shares of the company’s stock worth $25,148,000 after purchasing an additional 370,122 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of LENZ Therapeutics in the 4th quarter worth approximately $306,000. Sovran Advisors LLC boosted its stake in shares of LENZ Therapeutics by 49.8% in the 4th quarter. Sovran Advisors LLC now owns 160,134 shares of the company’s stock valued at $2,562,000 after purchasing an additional 53,214 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of LENZ Therapeutics by 63.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 23,921 shares of the company’s stock valued at $383,000 after purchasing an additional 9,316 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

LENZ Therapeutics Trading Down 5.9%

NASDAQ LENZ opened at $14.62 on Thursday. The firm’s 50 day simple moving average is $19.56 and its 200 day simple moving average is $30.15. The firm has a market capitalization of $457.46 million, a price-to-earnings ratio of -6.93 and a beta of 0.50. LENZ Therapeutics has a 1 year low of $14.43 and a 1 year high of $50.40.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, November 5th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.08. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $4.64 million. On average, equities research analysts forecast that LENZ Therapeutics will post -2.18 earnings per share for the current 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.