LENZ Therapeutics (NASDAQ:LENZ) Receives Outperform Rating from Leerink Partnrs

Leerink Partnrs reaffirmed their outperform rating on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research report released 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.

LENZ has been the subject of a number of other research reports. William Blair initiated coverage on shares of LENZ Therapeutics in a research report on Monday. They set an outperform rating for the company. Piper Sandler initiated coverage on shares of LENZ Therapeutics in a research report on Wednesday, March 27th. They set an overweight rating and a $28.00 target price for the company. Citigroup initiated coverage on shares of LENZ Therapeutics in a research report on Wednesday, April 10th. They issued a buy rating and a $34.00 price objective for the company. Finally, SVB Leerink initiated coverage on shares of LENZ Therapeutics in a research report on Monday. They issued an outperform rating and a $32.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $31.33.

LENZ Therapeutics Stock Performance

Shares of NASDAQ:LENZ traded down $2.22 during midday trading on Monday, reaching $17.70. 84,141 shares of the company’s stock were exchanged, compared to its average volume of 58,317. The company has a market capitalization of $147.26 million, a price-to-earnings ratio of -1.13 and a beta of 0.20. LENZ Therapeutics has a 12 month low of $14.07 and a 12 month high of $29.82.

Insider Buying and Selling at LENZ Therapeutics

In other news, Director Ra Capital Management, L.P. bought 998,009 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of $15.03 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 38.40% of the company’s stock.

About LENZ Therapeutics

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.