Royal Bank of Canada Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $20.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price target lowered by Royal Bank of Canada from $24.00 to $20.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Chardan Capital reiterated a “buy” rating and set a $25.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday. Leerink Partners cut their target price on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $22.80.

Lexeo Therapeutics Stock Performance

Shares of Lexeo Therapeutics stock opened at $4.11 on Tuesday. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $4.07 and a 200-day moving average price of $6.63. Lexeo Therapeutics has a 52 week low of $2.32 and a 52 week high of $19.50. The company has a market cap of $135.90 million, a PE ratio of -1.30 and a beta of 3.85.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.09. Equities analysts anticipate that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Lexeo Therapeutics by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after acquiring an additional 256,635 shares in the last quarter. State Street Corp increased its holdings in shares of Lexeo Therapeutics by 29.4% during the third quarter. State Street Corp now owns 253,946 shares of the company’s stock valued at $2,296,000 after acquiring an additional 57,674 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Lexeo Therapeutics during the 3rd quarter valued at approximately $11,307,000. Barclays PLC raised its stake in Lexeo Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 50,210 shares of the company’s stock worth $454,000 after acquiring an additional 31,057 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Lexeo Therapeutics by 18.9% in the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after purchasing an additional 599,203 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

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.