LENZ Therapeutics (NASDAQ:LENZ) Posts Earnings Results, Misses Estimates By $0.10 EPS

LENZ Therapeutics (NASDAQ:LENZ) issued its quarterly earnings results on Wednesday. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.10), FiscalAI reports. The firm had revenue of $3.38 million for the quarter, compared to the consensus estimate of $4.20 million. LENZ Therapeutics had a negative net margin of 586.74% and a negative return on equity of 53.39%.

LENZ Therapeutics Stock Performance

NASDAQ LENZ traded down $0.01 during trading on Thursday, reaching $3.19. 4,433,472 shares of the company traded hands, compared to its average volume of 908,444. The stock’s 50 day moving average price is $4.13 and its two-hundred day moving average price is $8.22. The company has a market cap of $100.39 million, a price-to-earnings ratio of -0.78 and a beta of 0.64. LENZ Therapeutics has a 1-year low of $3.00 and a 1-year high of $32.13.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LENZ. Zacks Research raised LENZ Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings cut LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Piper Sandler cut their target price on LENZ Therapeutics from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. HC Wainwright reaffirmed a “buy” rating on shares of LENZ Therapeutics in a research report on Tuesday, July 7th. Finally, Citigroup reiterated a “buy” rating on shares of LENZ Therapeutics in a research note on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.00.

LENZ Therapeutics Company Profile

LENZ Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing ophthalmic medicines for the treatment of presbyopia, the age-related loss of near vision. The company is headquartered in San Diego, California, and its programs are designed to provide an alternative to reading glasses and other corrective lenses.

LENZ’s primary product candidate is aceclidine ophthalmic solution, developed under the names LNZ100 and VIZZ. The pupil-selective miotic is intended to improve near vision while preserving distance vision, without relying on the lens-shaping mechanism targeted by some other presbyopia treatments.