Analysts Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Target Price at $23.80

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have earned an average rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $23.80.

A number of equities research analysts have recently issued reports on LXEO shares. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, January 21st. Leerink Partners reduced their price objective on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Chardan Capital boosted their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, HC Wainwright boosted their price objective on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Lexeo Therapeutics by 5.6% in the fourth quarter. Bank of New York Mellon Corp now owns 50,660 shares of the company’s stock valued at $333,000 after buying an additional 2,677 shares in the last quarter. JPMorgan Chase & Co. raised its position in Lexeo Therapeutics by 30.1% during the fourth quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company’s stock valued at $88,000 after purchasing an additional 3,093 shares in the last quarter. BNP Paribas Financial Markets raised its position in Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after purchasing an additional 3,591 shares in the last quarter. Wells Fargo & Company MN raised its position in Lexeo Therapeutics by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 11,156 shares of the company’s stock valued at $73,000 after purchasing an additional 3,714 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Lexeo Therapeutics by 19.6% during the fourth quarter. Rhumbline Advisers now owns 25,197 shares of the company’s stock valued at $166,000 after purchasing an additional 4,127 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Lexeo Therapeutics Trading Up 6.6 %

Shares of NASDAQ:LXEO opened at $4.50 on Tuesday. Lexeo Therapeutics has a 12-month low of $3.84 and a 12-month high of $19.50. The stock has a market cap of $148.80 million, a PE ratio of -1.42 and a beta of 2.99. The business has a 50 day moving average of $6.04 and a 200-day moving average of $8.33. 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 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.