Leerink Partnrs Comments on LENZ Therapeutics, Inc.'s Q1 2024 Earnings (NASDAQ:LENZ)

LENZ Therapeutics, Inc. (NASDAQ:LENZ - Free Report) - Leerink Partnrs issued their Q1 2024 earnings per share estimates for LENZ Therapeutics in a research note issued to investors on Monday, April 15th. Leerink Partnrs analyst M. Goodman anticipates that the company will post earnings per share of ($0.51) for the quarter. Leerink Partnrs has a "Outperform" rating on the stock. Leerink Partnrs also issued estimates for LENZ Therapeutics' Q2 2024 earnings at ($0.47) EPS, Q3 2024 earnings at ($0.40) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.80) EPS, FY2025 earnings at ($2.20) EPS, FY2026 earnings at ($1.30) EPS, FY2027 earnings at $0.85 EPS and FY2028 earnings at $2.70 EPS.

Several other brokerages have also recently issued reports on LENZ. Piper Sandler initiated coverage on LENZ Therapeutics in a research note on Wednesday, March 27th. They issued an "overweight" rating and a $28.00 price objective for the company. Citigroup initiated coverage on LENZ Therapeutics in a research note on Wednesday, April 10th. They issued a "buy" rating and a $34.00 price objective for the company. William Blair initiated coverage on LENZ Therapeutics in a research note on Monday. They issued an "outperform" rating for the company. Finally, SVB Leerink started coverage on LENZ Therapeutics in a research note on Monday. They issued an "outperform" rating and a $32.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, LENZ Therapeutics has a consensus rating of "Buy" and a consensus price target of $31.33.

LENZ Therapeutics Stock Down 11.1 %

Shares of NASDAQ:LENZ traded down $2.22 during trading on Wednesday, hitting $17.70. The stock had a trading volume of 84,141 shares, compared to its average volume of 58,431. LENZ Therapeutics has a 12-month low of $14.07 and a 12-month high of $29.82. The stock has a market cap of $147.26 million, a price-to-earnings ratio of -1.13 and a beta of 0.20.

Insider Activity at LENZ Therapeutics

In other LENZ Therapeutics news, Director Ra Capital Management, L.P. acquired 998,009 shares of the company's stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of $15.03 per share, with a total value of $15,000,075.27. Following the completion of the acquisition, the director now owns 3,319,339 shares in the company, valued at $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 owned by company insiders.

LENZ Therapeutics Company Profile

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.