Leerink Partnrs Has Negative Outlook of LXEO FY2024 Earnings

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) – Leerink Partnrs lowered their FY2024 earnings per share estimates for shares of Lexeo Therapeutics in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings per share of ($3.04) for the year, down from their previous estimate of ($2.65). The consensus estimate for Lexeo Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Lexeo Therapeutics’ Q4 2024 earnings at ($0.73) EPS, FY2025 earnings at ($3.00) EPS, FY2026 earnings at ($2.55) EPS and FY2027 earnings at ($2.51) EPS.

Other analysts have also issued reports about the company. Leerink Partners decreased their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. HC Wainwright boosted their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Finally, Chardan Capital boosted their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.71.

Lexeo Therapeutics Stock Performance

LXEO stock opened at $6.02 on Monday. The stock has a 50-day moving average price of $8.91 and a 200-day moving average price of $12.18. Lexeo Therapeutics has a 1-year low of $5.80 and a 1-year high of $22.33. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a market cap of $199.08 million and a PE ratio of -1.90.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of LXEO. Janus Henderson Group PLC lifted its stake in Lexeo Therapeutics by 18.9% in the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after purchasing an additional 599,203 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Lexeo Therapeutics in the third quarter valued at approximately $11,307,000. Vestal Point Capital LP lifted its stake in Lexeo Therapeutics by 1.2% in the third quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock valued at $7,684,000 after purchasing an additional 10,000 shares during the last quarter. Artal Group S.A. lifted its stake in 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 purchasing an additional 198,281 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Lexeo Therapeutics by 84.5% in the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after purchasing an additional 355,928 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the transaction, the chief executive officer now owns 120,695 shares in the company, valued at $977,629.50. The trade was a 3.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 12,500 shares of company stock valued at $113,300. Corporate insiders own 4.50% 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.