William Blair Begins Coverage on LENZ Therapeutics (NASDAQ:LENZ)

William Blair began coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a research report report published on Monday, MarketBeat reports. The brokerage issued an outperform rating on the stock. William Blair also issued estimates for LENZ Therapeutics’ Q1 2024 earnings at ($0.74) EPS, Q2 2024 earnings at ($0.46) EPS, Q3 2024 earnings at ($0.46) EPS, Q4 2024 earnings at ($0.44) EPS, FY2024 earnings at ($2.10) EPS and FY2025 earnings at ($2.95) EPS.

A number of other equities analysts have also recently weighed in on the company. Citigroup assumed coverage on LENZ Therapeutics in a research note on Wednesday, April 10th. They issued a buy rating and a $34.00 price target on the stock. Piper Sandler assumed coverage on LENZ Therapeutics in a research note on Wednesday, March 27th. They issued an overweight rating and a $28.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $31.33.

LENZ Therapeutics Stock Performance

Shares of LENZ opened at $17.49 on Monday. The stock has a market capitalization of $145.52 million, a P/E ratio of -1.12 and a beta of 0.20. LENZ Therapeutics has a 1-year low of $14.07 and a 1-year high of $29.82.

Insiders Place Their Bets

In other LENZ Therapeutics news, Director Ra Capital Management, L.P. acquired 998,009 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $49,889,665.17. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 38.40% of the company’s stock.

LENZ Therapeutics Company Profile

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.