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

by · The Cerbat Gem

LENZ Therapeutics (NASDAQ:LENZ – Get Free Report) had its target price dropped by equities research analysts at Citigroup from $26.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 148.91% from the company’s current price.

LENZ has been the subject of several other research reports. Wall Street Zen lowered LENZ Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Piper Sandler lowered LENZ Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $39.00 to $12.00 in a research report on Tuesday. Weiss Ratings lowered LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. William Blair reissued an “outperform” rating on shares of LENZ Therapeutics in a research report on Tuesday, March 10th. Finally, Bank of America decreased their target price on LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

Get Our Latest Report on LENZ Therapeutics

LENZ Therapeutics Stock Up 1.6%

Shares of NASDAQ:LENZ traded up $0.13 during trading on Wednesday, hitting $8.04. The stock had a trading volume of 547,460 shares, compared to its average volume of 996,169. LENZ Therapeutics has a 12 month low of $6.83 and a 12 month high of $50.40. The company has a market capitalization of $251.93 million, a PE ratio of -2.23 and a beta of 0.62. The firm’s fifty day moving average is $10.25 and its 200 day moving average is $16.98.

LENZ Therapeutics (NASDAQ:LENZ – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.22). LENZ Therapeutics had a negative return on equity of 47.76% and a negative net margin of 519.30%.The firm had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.76 million. Equities research analysts expect that LENZ Therapeutics will post -3.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LENZ. Tower Research Capital LLC TRC increased its holdings in shares of LENZ Therapeutics by 51.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares in the last quarter. Quarry LP bought a new stake in shares of LENZ Therapeutics in the 3rd quarter worth $27,000. Bfsg LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter worth $30,000. Rhumbline Advisers increased its holdings in shares of LENZ Therapeutics by 2.7% in the 3rd quarter. Rhumbline Advisers now owns 25,019 shares of the company’s stock worth $1,165,000 after purchasing an additional 656 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of LENZ Therapeutics by 8.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,222 shares of the company’s stock worth $523,000 after purchasing an additional 861 shares in the last quarter. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

(Get Free Report)

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.

Read More