Lexeo Therapeutics (NASDAQ:LXEO) Announces Earnings Results

Lexeo Therapeutics (NASDAQ:LXEO) released its quarterly earnings data on Monday. The company reported ($0.64) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.64), Zacks reports.

Lexeo Therapeutics Trading Up 1.9 %

LXEO stock traded up $0.22 during midday trading on Wednesday, reaching $11.92. 119,613 shares of the company traded hands, compared to its average volume of 187,937. The firm has a market capitalization of $392.70 million and a price-to-earnings ratio of -0.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. The business has a 50 day moving average of $14.51 and a 200-day moving average of $14.60. Lexeo Therapeutics has a 52-week low of $9.00 and a 52-week high of $22.33.

Analyst Upgrades and Downgrades

Several research firms recently commented on LXEO. Baird R W upgraded Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday. HC Wainwright cut their price objective on shares of Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Chardan Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a research report on Wednesday. Finally, Robert W. Baird started coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 13th. They set an “outperform” rating and a $28.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.14.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.53, for a total transaction of $57,650.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at $1,391,613.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by insiders.

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.