Lexeo Therapeutics (NASDAQ:LXEO) Sees Unusually-High Trading Volume

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) saw unusually-strong trading volume on Friday . 133,528 shares traded hands during mid-day trading, a decline of 6% from the previous session’s volume of 142,581 shares.The stock last traded at $17.49 and had previously closed at $17.44.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LXEO. HC Wainwright began coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $22.00 target price for the company. Robert W. Baird began 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. Finally, Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $22.00.

Lexeo Therapeutics Price Performance

The firm’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $15.12. The firm has a market capitalization of $572.50 million and a PE ratio of -0.74. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.01). On average, research analysts forecast that Lexeo Therapeutics, Inc. will post -2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LXEO. BNP Paribas Financial Markets purchased a new stake in shares of Lexeo Therapeutics during the first quarter worth about $75,000. American International Group Inc. acquired a new stake in shares of Lexeo Therapeutics in the first quarter worth approximately $79,000. Cornell University acquired a new position in Lexeo Therapeutics in the 1st quarter valued at $1,980,000. Vanguard Group Inc. lifted its holdings in Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after purchasing an additional 65,573 shares in the last quarter. Finally, RA Capital Management L.P. acquired a new stake in Lexeo Therapeutics during the 1st quarter worth $10,364,000. Hedge funds and other 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.