HC Wainwright Has Optimistic Outlook of LENZ FY2029 Earnings

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Analysts at HC Wainwright raised their FY2029 earnings per share estimates for shares of LENZ Therapeutics in a research note issued on Thursday, May 8th. HC Wainwright analyst M. Caufield now anticipates that the company will earn $1.52 per share for the year, up from their previous estimate of $1.45. HC Wainwright currently has a “Buy” rating and a $38.00 target price on the stock. The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($2.18) per share.

LENZ has been the subject of several other reports. Piper Sandler initiated coverage on shares of LENZ Therapeutics in a report on Monday, April 14th. They set an “overweight” rating and a $51.00 target price for the company. TD Cowen started coverage on LENZ Therapeutics in a report on Tuesday, March 18th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Citigroup raised their price target on LENZ Therapeutics from $44.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $46.60.

LENZ Therapeutics Price Performance

Shares of NASDAQ LENZ opened at $26.34 on Friday. LENZ Therapeutics has a 1 year low of $14.42 and a 1 year high of $38.93. The firm has a 50-day moving average of $24.56 and a 200 day moving average of $27.29. The stock has a market cap of $741.37 million, a P/E ratio of -14.88 and a beta of 0.41.

LENZ Therapeutics (NASDAQ:LENZ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LENZ. Mirae Asset Global Investments Co. Ltd. purchased a new position in LENZ Therapeutics in the 4th quarter worth about $29,000. SG Americas Securities LLC raised its holdings in shares of LENZ Therapeutics by 20.7% during the fourth quarter. SG Americas Securities LLC now owns 5,458 shares of the company’s stock valued at $158,000 after purchasing an additional 935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LENZ Therapeutics by 14.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,914 shares of the company’s stock valued at $229,000 after purchasing an additional 1,005 shares during the period. Rhumbline Advisers lifted its position in LENZ Therapeutics by 6.2% during the fourth quarter. Rhumbline Advisers now owns 18,754 shares of the company’s stock valued at $541,000 after purchasing an additional 1,100 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in LENZ Therapeutics by 162.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,860 shares of the company’s stock worth $54,000 after purchasing an additional 1,151 shares during the last quarter. 54.32% of the stock is owned by institutional investors.

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.