HC Wainwright Has Positive Forecast for LENZ FY2024 Earnings

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Stock analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for LENZ Therapeutics in a research note issued to investors on Thursday, November 7th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings of ($2.01) per share for the year, up from their prior estimate of ($2.54). HC Wainwright currently has a “Buy” rating and a $38.00 price target on the stock. The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($3.15) 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.

A number of other analysts also recently weighed in on LENZ. Raymond James initiated 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. Piper Sandler reissued an “overweight” rating and set a $36.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Finally, William Blair upgraded LENZ Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Stock Up 7.8 %

LENZ Therapeutics stock opened at $35.07 on Monday. LENZ Therapeutics has a 52-week low of $14.07 and a 52-week high of $37.13. The firm’s fifty day moving average is $24.94 and its 200 day moving average is $21.27.

LENZ Therapeutics (NASDAQ:LENZ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. During the same period in the prior year, the company earned ($1.33) EPS.

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds have recently added to or reduced their stakes in LENZ. BNP Paribas Financial Markets bought a new stake in LENZ Therapeutics in the first quarter worth about $362,000. Vanguard Group Inc. purchased a new position in LENZ Therapeutics during the 1st quarter valued at $4,621,000. American International Group Inc. purchased a new position in LENZ Therapeutics during the 1st quarter valued at $44,000. Jacobs Levy Equity Management Inc. bought a new position in LENZ Therapeutics in the 1st quarter valued at $830,000. Finally, Ikarian Capital LLC purchased a new stake in LENZ Therapeutics in the first quarter worth $1,898,000. 54.32% of the stock is currently owned by institutional investors.

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.