Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $22.14 Average Price Target from Analysts

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given an average rating of “Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.14.

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Robert W. Baird started coverage on Lexeo Therapeutics in a research note on Thursday, June 13th. They set an “outperform” rating and a $28.00 price target for the company. Baird R W raised Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. Chardan Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research report on Wednesday, August 14th. Finally, HC Wainwright dropped their target price on shares of Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Lexeo Therapeutics Price Performance

LXEO opened at $10.78 on Friday. The stock has a fifty day moving average price of $11.52 and a 200 day moving average price of $13.67. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 1 year low of $9.00 and a 1 year high of $22.33. The stock has a market cap of $355.15 million and a price-to-earnings ratio of -0.48.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, meeting the consensus estimate of ($0.64). Analysts forecast that Lexeo Therapeutics will post -2.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $1,285,401.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 36,969 shares of company stock valued at $555,889. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Lexeo Therapeutics in the first quarter worth $75,000. American International Group Inc. bought a new position in shares of Lexeo Therapeutics during the 1st quarter worth about $79,000. Rhumbline Advisers boosted its position in shares of Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after acquiring an additional 3,627 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after acquiring an additional 3,483 shares during the period. Finally, Cornell University acquired a new position in Lexeo Therapeutics in the first quarter worth about $1,980,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc operates as a clinical stage genetic medicine company that focuses on hereditary and acquired diseases. The company develops LX2006, which is an AAVrh10-based gene therapy candidate for the treatment of Friedreich's ataxia (FA) cardiomyopathy; LX2020, an AAVrh10-based gene therapy candidate for the treatment of plakophilin-2 arrhythmogenic cardiomyopathy; LX2021, a gene therapy candidate for the treatment of DSP cardiomyopathy associated with it; and LX2022, a gene therapy candidate for the treatment of hypertrophic cardiomyopathy, or HCM caused by TNNI3 gene.