Leerink Partnrs Brokers Increase Earnings Estimates for LENZ

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Analysts at Leerink Partnrs raised their FY2028 EPS estimates for shares of LENZ Therapeutics in a research note issued to investors on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now expects that the company will earn $2.00 per share for the year, up from their previous forecast of ($2.00). The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($3.15) per share.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09.

Several other research firms have also recently weighed in on LENZ. HC Wainwright initiated coverage on LENZ Therapeutics in a report on Monday, August 12th. They set a “buy” rating and a $38.00 price target on the stock. Raymond James began coverage on shares of LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 target price on the stock. 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. Finally, William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $35.40.

LENZ Therapeutics Stock Performance

Shares of LENZ stock opened at $27.99 on Friday. LENZ Therapeutics has a twelve month low of $14.07 and a twelve month high of $29.82. The stock’s fifty day simple moving average is $23.21 and its 200 day simple moving average is $20.30.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in shares of LENZ Therapeutics during the first quarter worth $830,000. Jennison Associates LLC bought a new stake in LENZ Therapeutics during the first quarter valued at $3,009,000. Vanguard Group Inc. acquired a new stake in LENZ Therapeutics during the 1st quarter worth about $4,621,000. Bank of New York Mellon Corp raised its position in shares of LENZ Therapeutics by 255.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock worth $687,000 after acquiring an additional 28,556 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of LENZ Therapeutics in the 2nd quarter valued at about $390,000. Institutional investors own 54.32% of the company’s stock.

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.