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

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has earned a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $35.40.

Several brokerages have recently weighed in on LENZ. 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 on the stock. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a report on Thursday, November 7th. Finally, William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th.

Hedge Funds Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of LENZ Therapeutics by 18.7% during the 3rd 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 during the last quarter. Vanguard Group Inc. acquired a new position in LENZ Therapeutics during the 1st quarter valued at about $4,621,000. Parkman Healthcare Partners LLC purchased a new stake in LENZ Therapeutics in the third quarter valued at about $3,308,000. Charles Schwab Investment Management Inc. boosted its holdings in LENZ Therapeutics by 197.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after acquiring an additional 81,901 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of LENZ Therapeutics during the second quarter worth about $1,437,000. 54.32% of the stock is owned by hedge funds and other institutional investors.

LENZ Therapeutics Trading Up 5.1 %

Shares of LENZ Therapeutics stock opened at $32.41 on Friday. The stock has a 50 day moving average price of $31.37 and a 200-day moving average price of $24.80. LENZ Therapeutics has a one year low of $14.42 and a one year high of $38.93.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.09. During the same quarter in the previous year, the business earned ($1.33) EPS. Sell-side analysts expect that LENZ Therapeutics will post -2.09 earnings per share for the current fiscal year.

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.