Lexeo Therapeutics’ (LXEO) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $24.00 price objective on the stock.

A number of other brokerages have also weighed in on LXEO. Chardan Capital raised their price target on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Leerink Partners decreased their price target on shares of 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, HC Wainwright raised their price target 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. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.80.

Lexeo Therapeutics Trading Down 3.7 %

LXEO stock opened at $4.88 on Tuesday. The company’s 50-day simple moving average is $6.82 and its 200-day simple moving average is $9.41. 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 $4.78 and a 52-week high of $19.50. The firm has a market cap of $161.36 million, a P/E ratio of -1.54 and a beta of 3.08.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Lexeo Therapeutics by 18.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after purchasing an additional 599,203 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Lexeo Therapeutics in the 3rd quarter worth approximately $11,307,000. Vestal Point Capital LP lifted its stake in Lexeo Therapeutics by 1.2% in the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock worth $7,684,000 after purchasing an additional 10,000 shares in the last quarter. Verition Fund Management LLC lifted its stake in Lexeo Therapeutics by 84.5% in the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after purchasing an additional 355,928 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Lexeo Therapeutics by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after purchasing an additional 256,635 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.