Analysts Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Price Target at $22.14

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been given an average recommendation of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $22.14.

Several equities research analysts have recently weighed in on the stock. HC Wainwright dropped their target price on shares of Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a report on Wednesday, August 14th.

Insiders Place Their Bets

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total transaction of $53,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $1,285,401.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.

Institutional Trading of Lexeo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of LXEO. BNP Paribas Financial Markets purchased a new stake in Lexeo Therapeutics in the 1st quarter worth about $75,000. American International Group Inc. acquired a new position in shares of Lexeo Therapeutics in the 1st quarter valued at about $79,000. Rhumbline Advisers increased its holdings in shares of Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after purchasing an additional 3,627 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after purchasing an additional 3,483 shares in the last quarter. Finally, Cornell University acquired a new stake in shares of Lexeo Therapeutics during the first quarter worth approximately $1,980,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Price Performance

LXEO stock opened at $8.19 on Wednesday. The stock’s 50 day moving average is $10.61 and its two-hundred day moving average is $13.06. Lexeo Therapeutics has a 52-week low of $7.86 and a 52-week high of $22.33. The company has a market capitalization of $270.76 million and a PE ratio of -0.54. The company has a quick ratio of 9.38, a current ratio of 9.38 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.64). Analysts predict that Lexeo Therapeutics will post -2.74 earnings per share 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.