Brokerages Set LENZ Therapeutics, Inc. (NASDAQ:LENZ) Price Target at $35.40

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $35.40.

A number of equities research analysts have recently commented on LENZ shares. HC Wainwright began coverage on shares of LENZ Therapeutics in a research report on Monday, August 12th. They issued a “buy” rating and a $38.00 target price for the company. Piper Sandler reissued an “overweight” rating and issued a $36.00 target price on shares of LENZ Therapeutics in a research note on Thursday, August 15th. William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Raymond James assumed coverage on LENZ Therapeutics in a report on Friday, September 27th. They issued an “outperform” rating and a $37.00 price target for the company.

Institutional Trading of LENZ Therapeutics

Institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. acquired a new stake in LENZ Therapeutics during the first quarter worth $93,313,000. Vanguard Group Inc. purchased a new stake in LENZ Therapeutics in the 1st quarter valued at about $4,621,000. Jennison Associates LLC purchased a new stake in LENZ Therapeutics in the 1st quarter valued at about $3,009,000. Ikarian Capital LLC acquired a new position in LENZ Therapeutics in the first quarter valued at about $1,898,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in LENZ Therapeutics during the second quarter worth about $1,437,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Price Performance

LENZ opened at $23.98 on Tuesday. LENZ Therapeutics has a twelve month low of $14.07 and a twelve month high of $29.82. The stock’s 50-day moving average is $22.92.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, August 14th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. On average, sell-side analysts expect that LENZ Therapeutics will post -2.81 earnings per share 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.