LENZ Therapeutics’ (LENZ) “Outperform” Rating Reaffirmed at Leerink Partnrs

LENZ Therapeutics (NASDAQ:LENZ)‘s stock had its “outperform” rating restated by equities researchers at Leerink Partnrs in a research note issued to investors on Monday, Zacks.com reports. Leerink Partnrs also issued estimates for LENZ Therapeutics’ Q1 2024 earnings at ($0.51) EPS, 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 research firms have also issued reports on LENZ. William Blair started coverage on shares of LENZ Therapeutics in a research report on Monday. They issued an “outperform” rating on the stock. Citigroup started coverage on shares of LENZ Therapeutics in a research report on Wednesday, April 10th. They issued a “buy” rating and a $34.00 price target on the stock. Piper Sandler started coverage on shares of LENZ Therapeutics in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $28.00 price target on the stock. Finally, SVB Leerink started coverage on shares of LENZ Therapeutics in a research report on Monday. They issued an “outperform” rating and a $32.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, LENZ Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $31.33.

LENZ Therapeutics Stock Down 11.1 %

LENZ traded down $2.22 during midday trading on Monday, reaching $17.70. The company had a trading volume of 84,101 shares, compared to its average volume of 58,317. 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 Buying and Selling

In other news, Director Ra Capital Management, L.P. bought 998,009 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $15.03 per share, with a total value of $15,000,075.27. Following the acquisition, the director now owns 3,319,339 shares of the company’s stock, valued at approximately $49,889,665.17. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 38.40% of the stock is currently owned by 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.