Piper Sandler Initiates Coverage on LENZ Therapeutics (NASDAQ:LENZ)

Investment analysts at Piper Sandler started coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating and a $28.00 price target on the stock. Piper Sandler’s target price points to a potential upside of 25.39% from the company’s current price.

LENZ Therapeutics Stock Up 2.4 %

LENZ Therapeutics stock opened at $22.33 on Wednesday. LENZ Therapeutics has a twelve month low of $14.07 and a twelve month high of $29.82. The firm has a market cap of $185.79 million, a price-to-earnings ratio of -1.43 and a beta of 0.20.

Insider Activity

In other LENZ Therapeutics news, Director Ra Capital Management, L.P. acquired 998,009 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was purchased at an average price of $15.03 per share, for a total transaction of $15,000,075.27. Following the acquisition, the director now owns 3,319,339 shares in the company, valued at approximately $49,889,665.17. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 38.40% of the company’s stock.

LENZ Therapeutics Company Profile

Graphite Bio Inc is a clinical-stage, next-generation gene editing company focused on therapies to treat or cure serious diseases. Graphite Bio Inc is based in SOUTH SAN FRANCISCO, Calif.