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

LENZ Therapeutics (NASDAQ:LENZ)‘s stock had its “outperform” rating restated by investment analysts at Leerink Partnrs in a research report issued 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 equities research analysts have also recently weighed in on the stock. SVB Leerink began 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. Citigroup began 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. William Blair assumed coverage on shares of LENZ Therapeutics in a research report on Monday. They issued an “outperform” rating on the stock. Finally, Piper Sandler started coverage on shares of LENZ Therapeutics in a research report on Wednesday, March 27th. They set an “overweight” rating and a $28.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, LENZ Therapeutics presently has a consensus rating of “Buy” and an average price target of $31.33.

LENZ Therapeutics Price Performance

Shares of LENZ Therapeutics stock traded down $2.22 on Monday, hitting $17.70. 84,101 shares of the company traded hands, compared to its average volume of 58,317. The stock has a market cap of $147.26 million, a P/E ratio of -1.13 and a beta of 0.20. LENZ Therapeutics has a 52 week low of $14.07 and a 52 week high of $29.82.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. acquired 998,009 shares of the stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of $15.03 per share, for a total transaction of $15,000,075.27. Following the transaction, the director now owns 3,319,339 shares in the company, valued at approximately $49,889,665.17. The purchase was disclosed in a filing with the SEC, which is available through this link. 38.40% of the stock is owned by corporate insiders.

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.