Lexeo Therapeutics (NASDAQ:LXEO) Receives “Buy” Rating from Chardan Capital

Chardan Capital reissued their buy rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a report published on Friday, Benzinga reports. They currently have a $23.00 target price on the stock.

Several other research firms have also commented on LXEO. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. HC Wainwright decreased their price target 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. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Buy” and an average target price of $22.14.

Lexeo Therapeutics Stock Performance

NASDAQ LXEO opened at $9.50 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38. Lexeo Therapeutics has a 1-year low of $7.86 and a 1-year high of $22.33. The firm has a market capitalization of $314.07 million and a P/E ratio of -0.65. The business’s 50-day simple moving average is $10.05 and its 200-day simple moving average is $12.67.

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

Insider Buying and Selling at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the completion of the transaction, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 15,000 shares of company stock worth $151,400 over the last 90 days. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position 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 worth $39,802,000 after buying an additional 210,047 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Lexeo Therapeutics in the 1st quarter worth about $75,000. American International Group Inc. bought a new stake in Lexeo Therapeutics in the 1st quarter valued at about $79,000. Vanguard Group Inc. boosted its stake in Lexeo Therapeutics by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after purchasing an additional 65,573 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Lexeo Therapeutics by 12.3% in the 2nd 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 during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.