Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $22.00 Consensus Target Price from Brokerages

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $22.00.

Several research firms have recently commented on LXEO. Robert W. Baird initiated coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 13th. They set an “outperform” rating and a $28.00 price target on the stock. HC Wainwright initiated coverage on Lexeo Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, Baird R W upgraded Lexeo Therapeutics to a “strong-buy” rating in a report on Thursday, June 13th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of Lexeo Therapeutics during the first quarter worth $75,000. American International Group Inc. purchased a new stake in shares of Lexeo Therapeutics during the first quarter worth $79,000. Cornell University purchased a new stake in shares of Lexeo Therapeutics during the first quarter worth $1,980,000. Vanguard Group Inc. increased its position in shares of Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after acquiring an additional 65,573 shares during the period. Finally, Blackstone Inc. purchased a new stake in shares of Lexeo Therapeutics during the fourth quarter worth $9,342,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Lexeo Therapeutics Trading Up 6.2 %

LXEO opened at $14.89 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16. The company’s 50 day simple moving average is $15.15 and its two-hundred day simple moving average is $15.04. Lexeo Therapeutics has a 1-year low of $9.00 and a 1-year high of $22.33. The firm has a market capitalization of $490.48 million and a price-to-earnings ratio of -0.67.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Thursday, May 9th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.01). Analysts expect that Lexeo Therapeutics will post -2.65 EPS for the current fiscal year.

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.