William Blair Has Optimistic Outlook of LENZ FY2024 Earnings

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Equities researchers at William Blair lifted their FY2024 earnings estimates for LENZ Therapeutics in a research report issued on Wednesday, November 6th. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings of ($2.28) per share for the year, up from their prior estimate of ($2.44). William Blair has a “Strong-Buy” rating on the stock. The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($2.09) per share. William Blair also issued estimates for LENZ Therapeutics’ Q4 2024 earnings at ($0.41) EPS, Q1 2025 earnings at ($0.48) EPS, Q2 2025 earnings at ($0.69) EPS, Q3 2025 earnings at ($0.73) EPS, Q4 2025 earnings at ($0.97) EPS and FY2025 earnings at ($2.87) EPS.

Other equities analysts have also recently issued reports about the stock. Raymond James initiated coverage on shares of LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $36.00 price target on shares of LENZ Therapeutics in a research report on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of LENZ Therapeutics in a report on Thursday, November 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, LENZ Therapeutics currently has an average rating of “Buy” and an average price target of $35.40.

LENZ Therapeutics Stock Performance

LENZ Therapeutics stock opened at $35.75 on Monday. LENZ Therapeutics has a 12 month low of $14.07 and a 12 month high of $37.13. The business 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 released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same period last year, the firm posted ($1.33) earnings per share.

Institutional Investors Weigh In On LENZ Therapeutics

Hedge funds have recently modified their holdings of the business. American International Group Inc. acquired a new position in LENZ Therapeutics during the first quarter worth about $44,000. SG Americas Securities LLC acquired a new position in shares of LENZ Therapeutics during the 3rd quarter worth approximately $107,000. GSA Capital Partners LLP acquired a new position in shares of LENZ Therapeutics during the 3rd quarter worth approximately $246,000. Squarepoint Ops LLC purchased a new stake in shares of LENZ Therapeutics in the second quarter valued at approximately $181,000. Finally, Rhumbline Advisers increased its holdings in shares of LENZ Therapeutics by 265.6% in the second quarter. Rhumbline Advisers now owns 16,812 shares of the company’s stock valued at $291,000 after purchasing an additional 12,214 shares during the last quarter. 54.32% of the stock is currently owned by institutional investors and hedge funds.

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.