HC Wainwright Has Positive Estimate for LENZ FY2024 Earnings

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Equities research analysts at HC Wainwright upped their FY2024 earnings estimates for shares of LENZ Therapeutics in a research note issued on Thursday, November 7th. HC Wainwright analyst M. Caufield now expects that the company will earn ($2.01) per share for the year, up from their prior estimate of ($2.54). HC Wainwright has a “Buy” rating and a $38.00 price target on the stock. The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($2.09) per share. HC Wainwright also issued estimates for LENZ Therapeutics’ Q4 2024 earnings at ($0.43) EPS, FY2025 earnings at ($2.13) EPS, FY2026 earnings at ($1.33) EPS, FY2027 earnings at ($0.55) EPS and FY2028 earnings at $0.55 EPS.

Several other analysts also recently issued reports on the company. William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James began coverage on shares of LENZ Therapeutics in a report on Friday, September 27th. They issued an “outperform” rating and a $37.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $36.00 price target on shares of LENZ Therapeutics in a report on Thursday, August 15th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $35.40.

LENZ Therapeutics Trading Up 1.9 %

Shares of NASDAQ:LENZ opened at $35.75 on Monday. The business’s fifty day moving average price is $25.18 and its two-hundred day moving average price is $21.42. LENZ Therapeutics has a one year low of $14.07 and a one year high of $37.13.

LENZ Therapeutics (NASDAQ:LENZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter in the previous year, the firm earned ($1.33) EPS.

Institutional Trading of LENZ Therapeutics

A number of hedge funds have recently added to or reduced their stakes in LENZ. RA Capital Management L.P. acquired a new position in shares of LENZ Therapeutics during the 1st quarter valued at about $93,313,000. Vanguard Group Inc. purchased a new stake in LENZ Therapeutics in the first quarter valued at approximately $4,621,000. Ikarian Capital LLC acquired a new position in LENZ Therapeutics during the first quarter worth approximately $1,898,000. Wealth Enhancement Advisory Services LLC purchased a new position in LENZ Therapeutics during the second quarter worth approximately $1,437,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of LENZ Therapeutics in the 1st quarter valued at $830,000. 54.32% of the stock is owned by institutional investors and hedge funds.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. 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.