LENZ Therapeutics (NASDAQ:LENZ) Price Target Raised to $47.00

LENZ Therapeutics (NASDAQ:LENZ) had its price target boosted by Citigroup from $44.00 to $47.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Separately, TD Cowen started coverage on LENZ Therapeutics in a research report on Tuesday, March 18th. They issued a “buy” rating and a $60.00 target price on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $41.67.

LENZ Therapeutics Price Performance

NASDAQ LENZ opened at $26.49 on Thursday. The firm has a market cap of $728.50 million, a P/E ratio of -5.55 and a beta of 0.58. The stock’s 50-day moving average is $24.15 and its 200-day moving average is $27.06. LENZ Therapeutics has a one year low of $14.42 and a one year high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). Equities analysts anticipate that LENZ Therapeutics will post -2.18 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LENZ. Vanguard Group Inc. grew its stake in LENZ Therapeutics by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock valued at $34,022,000 after purchasing an additional 59,630 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in LENZ Therapeutics by 83.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company’s stock valued at $23,760,000 after purchasing an additional 374,326 shares in the last quarter. Paradigm Biocapital Advisors LP bought a new position in LENZ Therapeutics in the fourth quarter valued at approximately $22,243,000. State Street Corp grew its stake in LENZ Therapeutics by 18.7% in the third quarter. State Street Corp now owns 289,154 shares of the company’s stock valued at $6,865,000 after purchasing an additional 45,600 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its stake in LENZ Therapeutics by 16.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company’s stock valued at $4,103,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

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.