LENZ Therapeutics, Inc. (NASDAQ:LENZ) Given Consensus Recommendation of “Buy” by Analysts

Shares of LENZ Therapeutics, Inc. (NASDAQ:LENZ) have been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $35.40.

Separately, TD Cowen began coverage on LENZ Therapeutics in a research report on Tuesday. They set a “buy” rating and a $60.00 target price for the company.

LENZ Therapeutics Stock Down 7.3 %

Shares of LENZ Therapeutics stock opened at $23.59 on Tuesday. LENZ Therapeutics has a 1 year low of $14.42 and a 1 year high of $38.93. The stock has a fifty day moving average price of $24.16 and a 200-day moving average price of $27.02.

Institutional Investors Weigh In On LENZ Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in LENZ Therapeutics by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 1,178,447 shares of the company’s stock worth $34,022,000 after acquiring an additional 59,630 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in LENZ Therapeutics by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 822,957 shares of the company’s stock worth $23,760,000 after acquiring an additional 374,326 shares during the last quarter. Paradigm Biocapital Advisors LP purchased a new stake in LENZ Therapeutics in the 4th quarter worth about $22,243,000. State Street Corp increased its holdings in LENZ Therapeutics by 18.7% in the 3rd quarter. State Street Corp now owns 289,154 shares of the company’s stock worth $6,865,000 after acquiring an additional 45,600 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in LENZ Therapeutics by 16.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company’s stock valued at $4,103,000 after buying an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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.