Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Recommendation of “Buy” by Brokerages

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $22.14.

Several equities research analysts have recently weighed in on LXEO shares. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Lexeo Therapeutics in a research note on Thursday, October 31st. Chardan Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Lexeo Therapeutics in a research report on Friday, October 25th. Finally, 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.

Lexeo Therapeutics Price Performance

Shares of NASDAQ LXEO opened at $8.00 on Friday. Lexeo Therapeutics has a twelve month low of $7.54 and a twelve month high of $22.33. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $9.38 and a two-hundred day moving average of $12.39. The company has a market capitalization of $264.48 million and a price-to-earnings ratio of -0.55.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, meeting the consensus estimate of ($0.64). As a group, analysts expect that Lexeo Therapeutics will post -2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its position 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 purchasing an additional 210,047 shares during the last quarter. 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 valued at $12,571,000 after buying an additional 198,281 shares during the last quarter. RA Capital Management L.P. acquired a new position in Lexeo Therapeutics in the first quarter worth approximately $10,364,000. Vanguard Group Inc. raised its position 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 acquiring an additional 65,573 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after acquiring an additional 3,483 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.