Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Average Recommendation of “Buy” by Analysts

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $22.14.

Several research analysts have issued reports on LXEO shares. HC Wainwright dropped their price target on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Baird R W raised Lexeo Therapeutics to a “strong-buy” rating in a report on Thursday, June 13th. Robert W. Baird started coverage on Lexeo Therapeutics in a report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price target on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $23.00 price target on shares of Lexeo Therapeutics in a report on Wednesday, August 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO opened at $9.67 on Friday. Lexeo Therapeutics has a 12 month low of $9.00 and a 12 month high of $22.33. The stock has a market cap of $318.58 million and a price-to-earnings ratio of -0.43. The stock’s 50 day moving average price is $12.21 and its 200 day moving average price is $13.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, hitting the consensus estimate of ($0.64). Equities research analysts anticipate that Lexeo Therapeutics will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $1,285,401.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 36,969 shares of company stock valued at $555,889 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LXEO. Eventide Asset Management LLC bought a new stake in Lexeo Therapeutics during the fourth quarter worth about $40,298,000. Janus Henderson Group PLC grew its stake in Lexeo Therapeutics by 9.0% during the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after buying an additional 210,047 shares during the last quarter. Omega Fund Management LLC bought a new stake in Lexeo Therapeutics during the fourth quarter worth about $28,955,000. Artal Group S.A. grew its stake in Lexeo Therapeutics by 32.9% during the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after buying an additional 198,281 shares during the last quarter. Finally, Blackstone Inc. bought a new stake in Lexeo Therapeutics during the fourth quarter worth about $9,342,000. 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.