LENZ Therapeutics (NASDAQ:LENZ) Posts Earnings Results, Beats Expectations By $0.08 EPS

by · The Cerbat Gem

LENZ Therapeutics (NASDAQ:LENZ – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.08, Zacks reports. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $4.64 million.

LENZ Therapeutics Price Performance

Shares of LENZ stock traded down $6.58 on Wednesday, hitting $21.47. The stock had a trading volume of 4,051,895 shares, compared to its average volume of 435,125. LENZ Therapeutics has a 12-month low of $16.53 and a 12-month high of $50.40. The business has a 50 day moving average of $39.32 and a 200 day moving average of $34.00. The stock has a market cap of $612.37 million, a price-to-earnings ratio of -11.30 and a beta of 0.46.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LENZ shares. Zacks Research raised LENZ Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Piper Sandler upped their target price on LENZ Therapeutics to $67.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. HC Wainwright restated a “buy” rating and set a $56.00 price objective on shares of LENZ Therapeutics in a research note on Monday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of LENZ Therapeutics in a report on Wednesday, October 8th. Finally, Raymond James Financial restated an “outperform” rating and issued a $50.00 price target (up from $40.00) on shares of LENZ Therapeutics in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, LENZ Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Get Our Latest Stock Report on LENZ Therapeutics

Institutional Investors Weigh In On LENZ Therapeutics

Several large investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its position in LENZ Therapeutics by 2,146.2% in the second quarter. Osaic Holdings Inc. now owns 1,168 shares of the company’s stock worth $34,000 after buying an additional 1,116 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in LENZ Therapeutics during the 2nd quarter worth approximately $654,000. Tower Research Capital LLC TRC raised its position in shares of LENZ Therapeutics by 51.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the company’s stock worth $41,000 after buying an additional 477 shares in the last quarter. Scoggin Management LP grew its holdings in shares of LENZ Therapeutics by 100.0% during the second quarter. Scoggin Management LP now owns 200,000 shares of the company’s stock worth $5,862,000 after purchasing an additional 100,000 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of LENZ Therapeutics by 93.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,951 shares of the company’s stock worth $57,000 after buying an additional 944 shares during the last quarter. Hedge funds and other institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Company Profile

(Get Free Report)

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.

Featured Stories