Lexeo Therapeutics (NASDAQ:LXEO) Price Target Lowered to $18.00 at Leerink Partners

Lexeo Therapeutics (NASDAQ:LXEO) had its target price cut by analysts at Leerink Partners from $19.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ price target would indicate a potential upside of 423.26% from the stock’s current price.

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $23.60.

Lexeo Therapeutics Price Performance

NASDAQ LXEO traded up $0.73 on Monday, reaching $3.44. The company’s stock had a trading volume of 4,160,192 shares, compared to its average volume of 317,824. Lexeo Therapeutics has a twelve month low of $2.32 and a twelve month high of $19.50. 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 firm’s 50 day moving average is $4.19 and its two-hundred day moving average is $6.76. The stock has a market cap of $113.75 million, a PE ratio of -1.09 and a beta of 3.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LXEO. Wellington Management Group LLP lifted its position in shares of Lexeo Therapeutics by 48.3% in the 4th quarter. Wellington Management Group LLP now owns 76,981 shares of the company’s stock valued at $507,000 after acquiring an additional 25,089 shares in the last quarter. Woodline Partners LP raised its stake in Lexeo Therapeutics by 0.8% during the 4th quarter. Woodline Partners LP now owns 858,691 shares of the company’s stock valued at $5,650,000 after purchasing an additional 6,730 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Lexeo Therapeutics by 41.2% in the fourth quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company’s stock valued at $7,896,000 after purchasing an additional 350,000 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Lexeo Therapeutics by 102.5% in the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock worth $4,937,000 after buying an additional 379,828 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Lexeo Therapeutics by 282.5% during the fourth quarter. Millennium Management LLC now owns 141,951 shares of the company’s stock valued at $934,000 after buying an additional 104,837 shares in 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.