Leerink Partners Issues Pessimistic Forecast for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price target cut by Leerink Partners from $20.00 to $19.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also weighed in on LXEO. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Chardan Capital reissued a “buy” rating and set a $23.00 price objective on shares of Lexeo Therapeutics in a report on Friday, October 25th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of Lexeo Therapeutics in a research report on Thursday, October 31st. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lexeo Therapeutics currently has a consensus rating of “Buy” and an average target price of $22.71.

Lexeo Therapeutics Price Performance

Lexeo Therapeutics stock opened at $6.65 on Wednesday. The stock has a market cap of $219.85 million and a P/E ratio of -2.10. The company has a fifty day simple moving average of $9.01 and a 200-day simple moving average of $12.23. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 12-month low of $6.65 and a 12-month high of $22.33.

Insiders Place Their Bets

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 12,500 shares of company stock valued at $113,300. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Lexeo Therapeutics

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Lexeo Therapeutics during the 1st quarter worth $75,000. Vanguard Group Inc. raised its holdings in Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after purchasing an additional 65,573 shares in the last quarter. American International Group Inc. acquired a new stake in Lexeo Therapeutics in the first quarter valued at about $79,000. Janus Henderson Group PLC increased its position in Lexeo Therapeutics by 9.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after purchasing an additional 210,047 shares during the period. Finally, Artal Group S.A. raised its stake in shares of Lexeo Therapeutics by 32.9% during the 1st quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after buying an additional 198,281 shares in the last quarter. 60.67% of the stock is 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.