Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $23.80 Consensus Price Target from Brokerages

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been assigned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Five equities research 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 analysts that have issued ratings on the stock in the last year is $23.80.

Several research firms recently weighed in on LXEO. HC Wainwright raised their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Chardan Capital raised their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Leerink Partners decreased their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th.

Lexeo Therapeutics Trading Up 5.1 %

Shares of LXEO opened at $8.23 on Thursday. The firm has a market cap of $272.17 million and a P/E ratio of -2.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. Lexeo Therapeutics has a 1 year low of $5.77 and a 1 year high of $22.33. The company has a 50 day simple moving average of $8.37 and a two-hundred day simple moving average of $11.78.

Insider Activity at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $10.65, for a total transaction of $53,250.00. Following the sale, the chief executive officer now owns 120,695 shares in the company, valued at approximately $1,285,401.75. This represents a 3.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 12,500 shares of company stock valued at $113,300. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after purchasing an additional 65,573 shares during the period. American International Group Inc. purchased a new position in Lexeo Therapeutics during the 1st quarter valued at $79,000. Janus Henderson Group PLC boosted its holdings in Lexeo Therapeutics by 9.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock valued at $39,802,000 after acquiring an additional 210,047 shares during the period. Bank of New York Mellon Corp grew its position in Lexeo Therapeutics by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after acquiring an additional 3,483 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after purchasing an additional 3,627 shares during the last quarter. Hedge funds and other institutional investors 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.