LENZ Therapeutics (NASDAQ:LENZ) Sets New 12-Month High – What’s Next?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s share price reached a new 52-week high on Wednesday . The company traded as high as $31.64 and last traded at $31.33, with a volume of 75050 shares traded. The stock had previously closed at $28.65.

Wall Street Analysts Forecast Growth

LENZ has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective on shares of LENZ Therapeutics in a research report on Thursday, August 15th. Raymond James initiated coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective for the company. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, HC Wainwright initiated coverage on shares of LENZ Therapeutics in a research report on Monday, August 12th. They set a “buy” rating and a $38.00 price objective for the company. Six 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, the company currently has an average rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Price Performance

The stock’s 50 day moving average is $24.29 and its two-hundred day moving average is $20.91.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. On average, equities analysts expect that LENZ Therapeutics, Inc. will post -3.15 EPS for the current year.

Institutional Trading of LENZ Therapeutics

Large investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new stake in LENZ Therapeutics during the first quarter worth about $830,000. Jennison Associates LLC bought a new stake in LENZ Therapeutics during the first quarter worth about $3,009,000. Vanguard Group Inc. bought a new stake in LENZ Therapeutics during the first quarter worth about $4,621,000. Bank of New York Mellon Corp grew its stake in LENZ Therapeutics by 255.4% during the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock worth $687,000 after buying an additional 28,556 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in LENZ Therapeutics during the second quarter worth about $390,000. 54.32% of the stock is owned by 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.