Citigroup Issues Positive Forecast for LENZ Therapeutics (NASDAQ:LENZ) Stock Price

LENZ Therapeutics (NASDAQ:LENZ) had its price target upped by Citigroup from $44.00 to $47.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, TD Cowen initiated coverage on LENZ Therapeutics in a report on Tuesday. They set a “buy” rating and a $60.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, LENZ Therapeutics currently has an average rating of “Buy” and a consensus price target of $41.67.

LENZ Therapeutics Stock Up 3.1 %

NASDAQ LENZ opened at $26.30 on Thursday. LENZ Therapeutics has a 12 month low of $14.42 and a 12 month high of $38.93. The company has a 50-day moving average of $24.09 and a 200-day moving average of $27.01.

LENZ Therapeutics (NASDAQ:LENZ) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.04). On average, sell-side analysts forecast that LENZ Therapeutics will post -2.18 EPS for the current year.

Hedge Funds Weigh In On LENZ Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in LENZ Therapeutics in the 4th quarter worth approximately $1,270,000. Parkman Healthcare Partners LLC purchased a new position in LENZ Therapeutics in the 3rd quarter worth approximately $3,308,000. Barclays PLC boosted its holdings in LENZ Therapeutics by 273.1% in the 3rd quarter. Barclays PLC now owns 16,463 shares of the company’s stock worth $391,000 after acquiring an additional 12,051 shares during the period. The Manufacturers Life Insurance Company purchased a new position in LENZ Therapeutics in the 3rd quarter worth approximately $743,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 81,901 shares during the period. 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.