FY2024 EPS Estimates for Lexeo Therapeutics, Inc. Decreased by Chardan Capital (NASDAQ:LXEO)

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) – Equities research analysts at Chardan Capital decreased their FY2024 earnings estimates for shares of Lexeo Therapeutics in a research note issued on Wednesday, August 14th. Chardan Capital analyst G. Livshits now forecasts that the company will post earnings per share of ($2.93) for the year, down from their prior forecast of ($2.54). Chardan Capital has a “Buy” rating and a $23.00 price objective on the stock. The consensus estimate for Lexeo Therapeutics’ current full-year earnings is ($2.65) per share.

Other analysts have also issued research reports about the company. HC Wainwright dropped their price target on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $22.14.

Lexeo Therapeutics Price Performance

Shares of LXEO stock opened at $12.21 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. Lexeo Therapeutics has a fifty-two week low of $9.00 and a fifty-two week high of $22.33. The firm has a market cap of $402.26 million and a P/E ratio of -0.55. The business’s 50 day moving average price is $14.19 and its 200-day moving average price is $14.50.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.64).

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in shares of Lexeo Therapeutics by 9.0% in the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after acquiring an additional 210,047 shares during the last quarter. Blackstone Inc. bought a new position in Lexeo Therapeutics in the 4th quarter worth about $9,342,000. BNP Paribas Financial Markets purchased a new stake in Lexeo Therapeutics during the 1st quarter valued at about $75,000. American International Group Inc. purchased a new stake in Lexeo Therapeutics during the 1st quarter valued at about $79,000. Finally, Omega Fund Management LLC bought a new stake in Lexeo Therapeutics during the 4th quarter valued at about $28,955,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 26,969 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $16.50, for a total value of $444,988.50. Following the sale, the chief executive officer now owns 148,726 shares in the company, valued at $2,453,979. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

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.