Lexeo Therapeutics (NASDAQ:LXEO) Given “Outperform” Rating at Royal Bank of Canada

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $24.00 target price on the stock. Royal Bank of Canada’s price target indicates a potential upside of 387.31% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Leerink Partners lowered their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. HC Wainwright boosted their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Chardan Capital boosted their price objective on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.80.

Lexeo Therapeutics Price Performance

Shares of LXEO traded down $0.15 during mid-day trading on Tuesday, reaching $4.93. 144,859 shares of the company’s stock were exchanged, compared to its average volume of 224,283. The company has a market cap of $162.87 million, a price-to-earnings ratio of -1.56 and a beta of 3.08. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52-week low of $4.78 and a 52-week high of $19.50. The company has a 50-day simple moving average of $6.82 and a two-hundred day simple moving average of $9.41.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its holdings in 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 worth $510,000 after buying an additional 3,483 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after buying an additional 3,591 shares in the last quarter. Rhumbline Advisers lifted its holdings in Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Lexeo Therapeutics by 135.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,278 shares of the company’s stock worth $93,000 after buying an additional 5,915 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in Lexeo Therapeutics in the 3rd quarter worth $67,000. Institutional investors and hedge funds 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.