Lexeo Therapeutics (NASDAQ:LXEO) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a research report report published on Thursday morning, Benzinga reports. HC Wainwright currently has a $21.00 target price on the stock.

A number of other brokerages have also weighed in on LXEO. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Chardan Capital reiterated a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research note on Friday, October 25th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $22.14.

Lexeo Therapeutics Price Performance

Shares of NASDAQ LXEO opened at $7.93 on Thursday. Lexeo Therapeutics has a twelve month low of $7.54 and a twelve month high of $22.33. The firm has a market cap of $262.17 million and a P/E ratio of -0.54. The company has a 50 day moving average of $9.71 and a 200 day moving average of $12.54. The company has a quick ratio of 9.38, a current ratio of 9.38 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.64). As a group, research analysts expect that Lexeo Therapeutics will post -2.76 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total transaction of $53,250.00. Following the completion of the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $1,285,401.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 15,000 shares of company stock valued at $151,400 in the last 90 days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Lexeo Therapeutics in the 1st quarter worth $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics in the 1st quarter worth $79,000. Values First Advisors Inc. bought a new position in Lexeo Therapeutics in the 3rd quarter worth $67,000. Rhumbline Advisers boosted its holdings 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 purchasing an additional 3,627 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Lexeo Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after purchasing an additional 3,483 shares during the last quarter. Institutional investors 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.