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

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has received an average rating of “Buy” from the nine research firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $22.14.

Several equities research analysts have recently commented on LXEO shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Baird R W upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. HC Wainwright cut their price objective on shares of Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird started coverage on Lexeo Therapeutics in a report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $23.00 price target on shares of Lexeo Therapeutics in a report on Wednesday, August 14th.

Insider Transactions at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.53, for a total transaction of $57,650.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $1,391,613.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 36,969 shares of company stock worth $555,889. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Eventide Asset Management LLC purchased a new position in shares of Lexeo Therapeutics in the 4th quarter worth approximately $40,298,000. Janus Henderson Group PLC boosted its stake in Lexeo Therapeutics by 9.0% in the first 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 in the last quarter. Omega Fund Management LLC purchased a new position in Lexeo Therapeutics in the fourth quarter worth $28,955,000. Artal Group S.A. increased its position in shares of Lexeo Therapeutics by 32.9% during the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after purchasing an additional 198,281 shares in the last quarter. Finally, Blackstone Inc. purchased a new stake in shares of Lexeo Therapeutics during the 4th quarter valued at $9,342,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Lexeo Therapeutics Trading Up 0.2 %

Shares of LXEO stock opened at $9.58 on Friday. The stock has a market capitalization of $315.61 million and a P/E ratio of -0.43. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $11.79 and its 200 day moving average is $13.72. Lexeo Therapeutics has a 12-month low of $9.00 and a 12-month high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.64). Research analysts expect that Lexeo Therapeutics will post -2.74 earnings per share for the current year.

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.