TD Cowen Initiates Coverage on LENZ Therapeutics (NASDAQ:LENZ)

TD Cowen assumed coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a report published on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $60.00 price target on the stock.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $26.30 on Tuesday. LENZ Therapeutics has a 12 month low of $14.42 and a 12 month high of $38.93. The stock’s 50 day simple moving average is $24.09 and its two-hundred day simple moving average is $27.01.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, March 19th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.04). As a group, equities research analysts expect that LENZ Therapeutics will post -2.18 earnings per share for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised 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 purchasing an additional 59,630 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 buying an additional 374,326 shares in the last quarter. Paradigm Biocapital Advisors LP acquired a new position in shares of LENZ Therapeutics during the 4th quarter worth approximately $22,243,000. State Street Corp lifted its position 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 buying 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 4th quarter. Alyeska Investment Group L.P. now owns 142,113 shares of the company’s stock valued at $4,103,000 after acquiring an additional 20,000 shares during the period. 54.32% of the stock is currently owned by institutional investors and hedge funds.

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.