Analysts Project LENZ Therapeutics Price Target at $56.40

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has received a consensus recommendation of “Moderate Buy” from seven analysts currently covering the company. According to Marketbeat.com, the analysts’ assessments include one “sell” rating, one “hold” rating, and five “buy” ratings. The average price target among these brokerages stands at $56.40 for the next year.

Recent Analyst Updates

Multiple brokerages have recently provided insights into LENZ Therapeutics. On October 20, 2023, Raymond James Financial restated its “outperform” rating and increased its price objective from $40.00 to $50.00. Following closely, Piper Sandler raised its price target to $67.00 and assigned an “overweight” rating in a note dated October 10, 2023. Conversely, Weiss Ratings reiterated a “sell (d-)” rating on October 8, while Zacks Research downgraded LENZ from “strong-buy” to “hold” on November 20. HC Wainwright reaffirmed its “buy” rating on December 15.

These varying recommendations reflect differing perspectives on the company’s potential in the competitive biopharmaceutical market.

Financial Performance and Insider Activity

LENZ Therapeutics reported its most recent earnings on November 5, 2023. The company posted a loss of ($0.59) per share, surpassing the consensus estimate of ($0.67) by $0.08. In terms of revenue, the company generated $12.50 million for the quarter, significantly exceeding analyst projections of $4.64 million. Analysts predict that LENZ Therapeutics will report an average loss of ($2.18) per share for the current fiscal year.

In a notable insider transaction, Chief Financial Officer Daniel R. Chevallard purchased 2,198 shares of LENZ stock on November 7 at an average price of $22.76 per share, totaling approximately $50,026.48. This acquisition increased his holdings to 5,386 shares, valued at around $122,585.36. In contrast, insider Shawn Olsson sold 10,000 shares on November 17 for an average price of $26.10, resulting in a total transaction value of $261,000.00 and a significant reduction in his stake.

Approximately 6.90% of LENZ’s stock is held by corporate insiders, reflecting a mix of confidence and caution among company executives.

Institutional Investment Trends

Recent changes in institutional investment positions indicate growing interest in LENZ Therapeutics. Harbor Capital Advisors Inc. increased its holdings by 2.9% during the second quarter, acquiring an additional 1,425 shares to reach a total of 50,041 shares, valued at $1,467,000. Sovran Advisors LLC and Aberdeen Group plc both purchased new stakes in LENZ during the same period, valuing at approximately $1,268,000 and $2,177,000, respectively.

Additionally, AlphaQuest LLC increased its investment by 56.2%, owning 10,219 shares valued at $300,000. Lisanti Capital Growth LLC also boosted its stake by 41.0%, acquiring 36,185 shares worth $1,061,000. Together, institutional investors hold approximately 54.32% of the company’s stock.

Company Overview

LENZ Therapeutics is a biopharmaceutical firm headquartered in Del Mar, California, focusing on developing therapies to improve vision. Its key product candidates, LNZ100 and LNZ101, are currently in Phase III clinical trials aimed at treating presbyopia, a common age-related vision condition.

As the company continues to navigate the complexities of the biopharmaceutical landscape, investor confidence and analyst recommendations will play crucial roles in its future trajectory.