HC Wainwright Has Bullish Outlook for LENZ FY2024 Earnings

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Equities researchers at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for shares of LENZ Therapeutics in a report issued on Thursday, November 7th. HC Wainwright analyst M. Caufield now expects that the company will earn ($2.01) per share for the year, up from their prior forecast of ($2.54). HC Wainwright currently has a “Buy” rating and a $38.00 price objective on the stock. The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($2.09) 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.

Several other equities analysts also recently issued reports on the stock. Raymond James assumed coverage on shares of LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 price target for the company. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $36.00 price target on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, LENZ Therapeutics currently has an average rating of “Buy” and a consensus price target of $35.40.

LENZ Therapeutics Stock Up 1.9 %

Shares of NASDAQ:LENZ opened at $35.75 on Monday. LENZ Therapeutics has a fifty-two week low of $14.07 and a fifty-two week high of $37.13. The firm has a 50-day simple moving average of $25.18 and a 200 day simple moving average of $21.42.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.09. During the same period last year, the firm posted ($1.33) EPS.

Hedge Funds Weigh In On LENZ Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. bought a new stake in LENZ Therapeutics in the first quarter worth $44,000. SG Americas Securities LLC acquired a new stake in shares of LENZ Therapeutics in the third quarter worth about $107,000. GSA Capital Partners LLP bought a new stake in shares of LENZ Therapeutics during the 3rd quarter worth about $246,000. Squarepoint Ops LLC acquired a new position in shares of LENZ Therapeutics during the 2nd quarter valued at about $181,000. Finally, Rhumbline Advisers raised its stake in shares of LENZ Therapeutics by 265.6% in the 2nd quarter. Rhumbline Advisers now owns 16,812 shares of the company’s stock valued at $291,000 after acquiring an additional 12,214 shares in the last quarter. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

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.