Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives Consensus Rating of “Buy” from Analysts

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given a consensus rating of “Buy” by the six brokerages that are covering the company, MarketBeat.com reports. Five 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 updated their coverage on the stock in the last year is $23.80.

LXEO has been the topic of several research analyst reports. HC Wainwright lifted their price target on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Chardan Capital upped 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. Leerink Partners dropped their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th.

Insider Buying and Selling at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at $977,629.50. This trade represents a 3.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 12,500 shares of company stock valued at $113,300 in the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in Lexeo Therapeutics by 12.3% during 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. BNP Paribas Financial Markets increased its position in Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares during the period. Rhumbline Advisers raised its stake in shares of Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. American International Group Inc. acquired a new stake in shares of Lexeo Therapeutics in the 1st quarter valued at approximately $79,000. Finally, Values First Advisors Inc. acquired a new stake in shares of Lexeo Therapeutics in the 3rd quarter valued at approximately $67,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Stock Performance

Shares of Lexeo Therapeutics stock opened at $8.41 on Thursday. The firm has a market capitalization of $278.09 million and a P/E ratio of -2.66. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52 week low of $5.77 and a 52 week high of $22.33. The firm’s 50 day moving average is $8.35 and its two-hundred day moving average is $11.73.

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.