LENZ Therapeutics (NASDAQ:LENZ) Sets New 1-Year High – Should You Buy?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.50 and last traded at $36.52, with a volume of 20188 shares traded. The stock had previously closed at $35.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LENZ shares. Raymond James began coverage on LENZ Therapeutics in a research note on Friday, September 27th. They issued an “outperform” rating and a $37.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a research report on Thursday, August 15th. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, November 7th. Finally, William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Trading Down 2.4 %

The business’s 50 day moving average price is $25.47 and its 200-day moving average price is $21.57.

LENZ Therapeutics (NASDAQ:LENZ) last issued its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same period in the previous year, the company earned ($1.33) EPS. Research analysts predict that LENZ Therapeutics, Inc. will post -2.09 EPS for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Institutional investors have recently made changes to their positions in the stock. American International Group Inc. purchased a new position in shares of LENZ Therapeutics in the 1st quarter valued at about $44,000. SG Americas Securities LLC purchased a new position in LENZ Therapeutics in the third quarter valued at about $107,000. MetLife Investment Management LLC purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $182,000. GSA Capital Partners LLP purchased a new stake in shares of LENZ Therapeutics during the 3rd quarter worth approximately $246,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of LENZ Therapeutics in the 2nd quarter worth approximately $181,000. 54.32% of the stock is currently owned by hedge funds and other institutional investors.

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.