Lexeo Therapeutics (NASDAQ:LXEO) Given New $20.00 Price Target at Royal Bank of Canada

Lexeo Therapeutics (NASDAQ:LXEO) had its price target lowered by equities researchers at Royal Bank of Canada from $24.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 428.40% from the stock’s current price.

A number of other equities analysts also recently commented on LXEO. Leerink Partners lowered their target price on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday. Chardan Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Lexeo Therapeutics in a report on Tuesday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $22.80.

Lexeo Therapeutics Stock Down 7.5 %

Shares of NASDAQ:LXEO traded down $0.31 during trading on Tuesday, hitting $3.79. The company’s stock had a trading volume of 891,112 shares, compared to its average volume of 328,687. Lexeo Therapeutics has a fifty-two week low of $2.32 and a fifty-two week high of $19.50. The business has a 50 day moving average price of $4.15 and a two-hundred day moving average price of $6.71. 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 company has a market capitalization of $125.15 million, a PE ratio of -1.23 and a beta of 3.85.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Monday, March 24th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.09. As a group, research analysts expect that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Lexeo Therapeutics by 107.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock valued at $577,000 after acquiring an additional 33,013 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after purchasing an additional 3,591 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after purchasing an additional 7,803 shares during the period. Vestal Point Capital LP grew its stake in Lexeo Therapeutics by 1.2% during the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock worth $7,684,000 after buying an additional 10,000 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after buying an additional 355,928 shares during the period. 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.