HC Wainwright Reiterates “Buy” Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $21.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 153.78% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Chardan Capital reissued a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a research report 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 company’s stock. Based on data from MarketBeat, Lexeo Therapeutics currently has a consensus rating of “Buy” and an average target price of $22.14.

Lexeo Therapeutics Stock Down 17.0 %

Lexeo Therapeutics stock opened at $8.28 on Thursday. Lexeo Therapeutics has a twelve month low of $7.86 and a twelve month high of $22.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 9.38. The firm has a market cap of $273.58 million and a PE ratio of -0.37. The firm’s 50 day moving average price is $9.88 and its two-hundred day moving average price is $12.60.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.64). On average, research analysts predict that Lexeo Therapeutics will post -2.74 EPS for the current fiscal year.

Insider Buying and Selling at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.53, for a total value of $57,650.00. Following the transaction, the chief executive officer now owns 120,695 shares in the company, valued at $1,391,613.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 15,000 shares of company stock worth $151,400 over the last 90 days. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. bought a new stake in shares of Lexeo Therapeutics in the third quarter valued at about $67,000. Rhumbline Advisers boosted its stake in Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Lexeo Therapeutics by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after buying an additional 3,483 shares during the period. RA Capital Management L.P. acquired a new position in shares of Lexeo Therapeutics in the 1st quarter valued at $10,364,000. Finally, Artal Group S.A. lifted its holdings in shares of Lexeo Therapeutics by 32.9% during the 1st quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after acquiring an additional 198,281 shares during the period. 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.