HC Wainwright Issues Positive Forecast for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective increased by HC Wainwright from $21.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

LXEO has been the topic of a number of other reports. Leerink Partners lowered their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday. Chardan Capital increased their price target on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $22.71.

Lexeo Therapeutics Stock Performance

Lexeo Therapeutics stock traded down $1.10 during mid-day trading on Thursday, reaching $6.68. 733,317 shares of the company traded hands, compared to its average volume of 250,136. The company has a market capitalization of $220.84 million and a price-to-earnings ratio of -2.28. Lexeo Therapeutics has a fifty-two week low of $6.67 and a fifty-two week high of $22.33. The firm’s fifty day moving average is $9.09 and its two-hundred day moving average is $12.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.64). On average, equities research analysts expect that Lexeo Therapeutics will post -2.76 earnings per share for the current fiscal year.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at $977,629.50. This represents a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXEO. BNP Paribas Financial Markets lifted its holdings in shares of Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares during the period. Values First Advisors Inc. purchased a new position in shares of Lexeo Therapeutics during the 3rd quarter worth about $67,000. American International Group Inc. purchased a new position in shares of Lexeo Therapeutics during the 1st quarter worth about $79,000. MetLife Investment Management LLC lifted its holdings in shares of Lexeo Therapeutics by 121.5% during the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after acquiring an additional 7,803 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after acquiring an additional 3,627 shares during the period. 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.