HC Wainwright Reaffirms “Buy” Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $23.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 418.02% from the company’s current price.

LXEO has been the subject of a number of other reports. Royal Bank of Canada dropped their price target on shares of Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday. Leerink Partners dropped their target price on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Monday. Finally, Chardan Capital reissued a “buy” rating and set a $25.00 price target on shares of Lexeo Therapeutics in a report on Tuesday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.80.

Lexeo Therapeutics Price Performance

Shares of Lexeo Therapeutics stock opened at $4.44 on Wednesday. The stock has a market cap of $146.81 million, a P/E ratio of -1.41 and a beta of 3.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. The stock’s fifty day moving average is $4.12 and its 200 day moving average is $6.67. Lexeo Therapeutics has a one year low of $2.32 and a one year high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.09. Sell-side analysts anticipate that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allostery Investments LP purchased a new stake in shares of Lexeo Therapeutics in the fourth quarter worth about $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Lexeo Therapeutics during the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets boosted its position in shares of Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after acquiring an additional 3,591 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Lexeo Therapeutics in the fourth quarter valued at $69,000. Finally, SG Americas Securities LLC bought a new stake in Lexeo Therapeutics in the fourth quarter worth $72,000. 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.