LENZ Therapeutics (NASDAQ:LENZ) Raised to Strong-Buy at Zacks Research

LENZ Therapeutics (NASDAQ:LENZ) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

LENZ has been the topic of several other research reports. Citigroup restated a “buy” rating and issued a $49.00 price target (up previously from $45.00) on shares of LENZ Therapeutics in a research note on Thursday, July 31st. Piper Sandler raised their price objective on shares of LENZ Therapeutics to $67.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 price objective (up previously from $40.00) on shares of LENZ Therapeutics in a research note on Monday. HC Wainwright raised their price objective on shares of LENZ Therapeutics from $38.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, LENZ Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $54.80.

LENZ Therapeutics Trading Down 4.0%

Shares of NASDAQ:LENZ opened at $31.38 on Wednesday. The firm’s 50 day moving average is $40.72 and its two-hundred day moving average is $33.25. LENZ Therapeutics has a 52 week low of $16.53 and a 52 week high of $50.40. The firm has a market capitalization of $895.02 million, a P/E ratio of -16.52 and a beta of 0.50.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.05. The firm had revenue of $5.00 million during the quarter, compared to analyst estimates of $5.00 million. Analysts predict that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Trading of LENZ Therapeutics

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in LENZ Therapeutics by 8.1% during the first quarter. Wellington Management Group LLP now owns 30,488 shares of the company’s stock worth $784,000 after buying an additional 2,272 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in LENZ Therapeutics during the first quarter worth approximately $13,825,000. Granahan Investment Management LLC boosted its holdings in LENZ Therapeutics by 239.8% during the first quarter. Granahan Investment Management LLC now owns 176,166 shares of the company’s stock worth $4,529,000 after buying an additional 124,324 shares in the last quarter. Sovran Advisors LLC bought a new stake in LENZ Therapeutics during the second quarter worth approximately $1,268,000. Finally, Swiss National Bank boosted its holdings in LENZ Therapeutics by 12.7% during the first quarter. Swiss National Bank now owns 21,300 shares of the company’s stock worth $548,000 after buying an additional 2,400 shares in the last quarter. 54.32% of the stock is currently owned by institutional investors.

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.