Citigroup Initiates Coverage on LENZ Therapeutics (NASDAQ:LENZ)

by · The Markets Daily

Citigroup assumed coverage on shares of LENZ Therapeutics (NASDAQ:LENZ – Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $34.00 target price on the stock.

Separately, Piper Sandler initiated coverage on LENZ Therapeutics in a report on Wednesday, March 27th. They issued an overweight rating and a $28.00 price target for the company.

Get Our Latest Analysis on LENZ Therapeutics

LENZ Therapeutics Stock Up 0.7 %

Shares of LENZ opened at $21.89 on Wednesday. The stock has a market capitalization of $182.17 million, a P/E ratio of -1.40 and a beta of 0.20. LENZ Therapeutics has a one year low of $14.07 and a one year high of $29.82.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. bought 998,009 shares of LENZ Therapeutics stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $15.03 per share, with a total value of $15,000,075.27. Following the acquisition, the director now directly owns 3,319,339 shares in the company, valued at approximately $49,889,665.17. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 38.40% of the stock is currently owned by company insiders.

LENZ Therapeutics Company Profile

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LENZ Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing aceclidine-based eye drop to enhance vision in patients diagnosed with presbyopia. 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.

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