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

William Blair started coverage on shares of LENZ Therapeutics (NASDAQ:LENZ) in a report released 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.

Other equities analysts have also recently issued reports about the stock. Piper Sandler began coverage on shares of LENZ Therapeutics in a research note on Wednesday, March 27th. They issued an overweight rating and a $28.00 price objective on the stock. Citigroup began coverage on shares of LENZ Therapeutics in a research note on Wednesday, April 10th. They issued a buy rating and a $34.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, LENZ Therapeutics 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 firm has a market capitalization of $145.52 million, a price-to-earnings 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.

Insider Transactions at LENZ Therapeutics

In related news, Director Ra Capital Management, L.P. purchased 998,009 shares of the stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of $15.03 per share, with a total value of $15,000,075.27. Following the purchase, the director now directly owns 3,319,339 shares in the company, valued at approximately $49,889,665.17. The acquisition was disclosed in a document filed with the SEC, which is available at 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.