LENZ Therapeutics (NASDAQ:LENZ) Coverage Initiated at Raymond James

Investment analysts at Raymond James assumed coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $37.00 price target on the stock. Raymond James’ price objective would indicate a potential upside of 53.91% from the stock’s previous close.

A number of other research firms have also recently commented on LENZ. William Blair raised LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler reissued an “overweight” rating and set a $36.00 target price on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Finally, HC Wainwright started coverage on LENZ Therapeutics in a research note on Monday, August 12th. They issued a “buy” rating and a $38.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, LENZ Therapeutics currently has a consensus rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Stock Performance

LENZ stock opened at $24.04 on Friday. The company’s 50-day moving average is $22.89. LENZ Therapeutics has a twelve month low of $14.07 and a twelve month high of $29.82.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. As a group, equities analysts forecast that LENZ Therapeutics will post -2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LENZ. American International Group Inc. bought a new stake in LENZ Therapeutics in the 1st quarter worth approximately $44,000. Marquette Asset Management LLC purchased a new position in shares of LENZ Therapeutics in the first quarter valued at $131,000. Squarepoint Ops LLC bought a new stake in LENZ Therapeutics in the second quarter worth $181,000. Rhumbline Advisers raised its stake in LENZ Therapeutics by 265.6% during the second quarter. Rhumbline Advisers now owns 16,812 shares of the company’s stock valued at $291,000 after purchasing an additional 12,214 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in LENZ Therapeutics by 28.4% during the second quarter. Renaissance Technologies LLC now owns 60,166 shares of the company’s stock valued at $1,040,000 after purchasing an additional 13,300 shares during the last quarter. 54.32% of the stock is 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.