Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $22.14 Average PT from Brokerages

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

Several research analysts have issued reports on LXEO shares. Chardan Capital reissued a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a research report on Wednesday, August 14th. HC Wainwright cut their target price 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, August 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock opened at $8.93 on Wednesday. The firm has a market capitalization of $294.20 million and a PE ratio of -0.40. The company has a 50 day moving average price of $10.36 and a 200-day moving average price of $12.89. Lexeo Therapeutics has a 52 week low of $7.86 and a 52 week high of $22.33. 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 earnings results on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.64). As a group, equities research analysts expect that Lexeo Therapeutics will post -2.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $10.65, for a total value of $53,250.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at $1,285,401.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 15,000 shares of company stock worth $151,400. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds have recently modified their holdings of LXEO. Janus Henderson Group PLC grew its stake in Lexeo Therapeutics by 9.0% during the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock valued at $39,802,000 after acquiring an additional 210,047 shares in the last quarter. Blackstone Inc. purchased a new position in shares of Lexeo Therapeutics during the fourth quarter valued at about $9,342,000. BNP Paribas Financial Markets bought a new stake in shares of Lexeo Therapeutics in the first quarter worth about $75,000. American International Group Inc. purchased a new stake in shares of Lexeo Therapeutics in the first quarter worth about $79,000. Finally, Vanguard Group Inc. boosted its stake in Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after buying an additional 65,573 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

About Lexeo Therapeutics

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.