Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given an average recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.80.

A number of equities research analysts have recently weighed in on the company. Chardan Capital raised their price target on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright increased their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Leerink Partners reduced their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 10,000 shares of company stock worth $80,550. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of hedge funds have recently made changes to their positions in LXEO. Bank of New York Mellon Corp grew its stake in shares of 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 purchasing an additional 3,483 shares during the period. Rhumbline Advisers increased its position in Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after acquiring an additional 3,627 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Lexeo Therapeutics during the third quarter worth approximately $67,000. Charles Schwab Investment Management Inc. raised its position in Lexeo Therapeutics by 107.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock worth $577,000 after purchasing an additional 33,013 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after acquiring an additional 3,591 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Stock Performance

Shares of LXEO opened at $6.78 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. Lexeo Therapeutics has a 52 week low of $5.77 and a 52 week high of $22.33. The company’s 50 day moving average price is $7.63 and its 200 day moving average price is $10.59. The company has a market capitalization of $224.19 million and a PE ratio of -2.15.

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.