LENZ Therapeutics (NASDAQ:LENZ) Shares Gap Up – What’s Next?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $23.59, but opened at $24.87. LENZ Therapeutics shares last traded at $24.62, with a volume of 43,582 shares.

Analysts Set New Price Targets

Separately, TD Cowen initiated coverage on shares of LENZ Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $60.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $39.50.

LENZ Therapeutics Trading Up 4.6 %

The firm’s 50-day moving average is $24.09 and its 200 day moving average is $27.02.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Analysts predict that LENZ Therapeutics, Inc. will post -2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of LENZ Therapeutics during the 4th quarter worth approximately $29,000. KLP Kapitalforvaltning AS purchased a new stake in LENZ Therapeutics in the 4th quarter worth about $46,000. Tower Research Capital LLC TRC raised its holdings in LENZ Therapeutics by 162.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock valued at $54,000 after acquiring an additional 1,151 shares during the period. Virtus ETF Advisers LLC bought a new position in LENZ Therapeutics in the 4th quarter worth about $67,000. Finally, SG Americas Securities LLC boosted its position in shares of LENZ Therapeutics by 20.7% in the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock valued at $158,000 after acquiring an additional 935 shares during the period. 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.