Royal Bank of Canada Reiterates “Outperform” Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Royal Bank of Canada reiterated their outperform rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a report issued on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $24.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright upped their price target on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Leerink Partners lowered their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Finally, Chardan Capital lifted their price target on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lexeo Therapeutics has a consensus rating of “Buy” and an average price target of $23.80.

Lexeo Therapeutics Trading Up 14.5 %

Shares of LXEO opened at $5.61 on Tuesday. Lexeo Therapeutics has a twelve month low of $4.67 and a twelve month high of $19.50. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $185.52 million, a P/E ratio of -1.78 and a beta of 3.08. The firm’s 50-day moving average is $6.71 and its two-hundred day moving average is $9.31.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Lexeo Therapeutics by 86.5% during the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock valued at $5,003,000 after acquiring an additional 256,635 shares during the last quarter. State Street Corp boosted its stake in shares of Lexeo Therapeutics by 29.4% during the 3rd quarter. State Street Corp now owns 253,946 shares of the company’s stock worth $2,296,000 after purchasing an additional 57,674 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Lexeo Therapeutics during the third quarter worth about $11,307,000. Janus Henderson Group PLC raised its position in shares of Lexeo Therapeutics by 18.9% in the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after buying an additional 599,203 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Lexeo Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 50,210 shares of the company’s stock valued at $454,000 after buying an additional 31,057 shares during the period. Hedge funds and other 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.