Lexeo Therapeutics (NASDAQ:LXEO) Shares Down 4.2%

Lexeo Therapeutics, Inc. (NASDAQ:LXEO)’s share price dropped 4.2% during mid-day trading on Wednesday . The company traded as low as $16.06 and last traded at $16.16. Approximately 17,948 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 126,526 shares. The stock had previously closed at $16.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LXEO shares. HC Wainwright began coverage on Lexeo Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $22.00 price target on the stock. Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, Robert W. Baird started coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.00.

Lexeo Therapeutics Stock Up 1.5 %

The company has a 50 day moving average of $14.93 and a 200 day moving average of $14.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results 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). Research analysts predict that Lexeo Therapeutics, Inc. will post -2.65 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. purchased a new stake in Lexeo Therapeutics during the 1st quarter worth $10,364,000. Artal Group S.A. grew its stake in shares of Lexeo Therapeutics by 32.9% in the first 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 in the last quarter. Janus Henderson Group PLC increased its position in shares of Lexeo Therapeutics by 9.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after purchasing an additional 210,047 shares during the last quarter. American International Group Inc. bought a new position in shares of Lexeo Therapeutics during the first quarter worth about $79,000. Finally, Vanguard Group Inc. grew its stake in Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after purchasing an additional 65,573 shares in the last quarter. 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.