LENZ Therapeutics (NASDAQ:LENZ) Reaches New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

LENZ Therapeutics Trading Up 4.2 %

The firm’s fifty day moving average price is $25.18 and its 200-day moving average price is $21.42.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same period in the prior year, the company posted ($1.33) earnings per share. On average, equities research analysts forecast that LENZ Therapeutics, Inc. will post -2.09 earnings per share for the current year.

Institutional Investors Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LENZ. RA Capital Management L.P. bought a new position in LENZ Therapeutics during the first quarter worth $93,313,000. Vanguard Group Inc. bought a new stake in LENZ Therapeutics during the 1st quarter worth approximately $4,621,000. Charles Schwab Investment Management Inc. grew its stake in LENZ Therapeutics by 197.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 123,371 shares of the company’s stock worth $2,929,000 after buying an additional 81,901 shares in the last quarter. Ikarian Capital LLC purchased a new stake in shares of LENZ Therapeutics in the 1st quarter valued at $1,898,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in LENZ Therapeutics during the 2nd quarter valued at $1,437,000. 54.32% of the stock is currently owned by institutional investors.

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.