LENZ Therapeutics (NASDAQ:LENZ) Issues Quarterly Earnings Results, Misses Expectations By $0.22 EPS

LENZ Therapeutics (NASDAQ:LENZ) posted its quarterly earnings data on Monday. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.22), FiscalAI reports. The company had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.76 million.

LENZ Therapeutics Stock Performance

LENZ traded down $0.07 on Monday, reaching $9.99. The company had a trading volume of 600,823 shares, compared to its average volume of 984,065. LENZ Therapeutics has a fifty-two week low of $8.25 and a fifty-two week high of $50.40. The stock has a market cap of $313.12 million, a P/E ratio of -3.55 and a beta of 0.62. The company’s fifty day moving average is $10.49 and its 200 day moving average is $17.50.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LENZ shares. Bank of America cut their price target on shares of LENZ Therapeutics from $35.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. William Blair restated an “outperform” rating on shares of LENZ Therapeutics in a research note on Tuesday, March 10th. Citigroup lowered their price objective on shares of LENZ Therapeutics from $52.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Weiss Ratings lowered shares of LENZ Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of LENZ Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG grew its stake in LENZ Therapeutics by 36.3% in the 3rd quarter. UBS Group AG now owns 1,201,616 shares of the company’s stock valued at $55,971,000 after buying an additional 320,135 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in LENZ Therapeutics by 108.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,122,738 shares of the company’s stock valued at $32,907,000 after buying an additional 585,000 shares during the last quarter. Franklin Resources Inc. grew its stake in LENZ Therapeutics by 86.7% in the 4th quarter. Franklin Resources Inc. now owns 1,096,334 shares of the company’s stock valued at $17,541,000 after buying an additional 509,250 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in LENZ Therapeutics by 307.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,023,542 shares of the company’s stock valued at $16,378,000 after buying an additional 772,411 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of LENZ Therapeutics during the 4th quarter worth approximately $8,630,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

About LENZ Therapeutics

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.