Brokerages Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Price Target at $22.00

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have received a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.00.

Several research analysts have commented on LXEO shares. Robert W. Baird initiated coverage on Lexeo Therapeutics in a research report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price objective on the stock. Baird R W raised Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. Chardan Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research report on Monday, July 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, July 16th.

Lexeo Therapeutics Trading Up 4.1 %

NASDAQ:LXEO opened at $13.06 on Friday. The business’s 50-day moving average is $15.15 and its two-hundred day moving average is $14.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16. Lexeo Therapeutics has a 12 month low of $9.00 and a 12 month high of $22.33. The firm has a market capitalization of $430.20 million and a PE ratio of -0.59.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.01). Research analysts predict that Lexeo Therapeutics will post -2.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 26,969 shares of Lexeo Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $16.50, for a total value of $444,988.50. Following the completion of the transaction, the chief executive officer now directly owns 148,726 shares in the company, valued at $2,453,979. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LXEO. BNP Paribas Financial Markets acquired a new position in shares of Lexeo Therapeutics during the first quarter worth approximately $75,000. American International Group Inc. bought a new stake in Lexeo Therapeutics during the first quarter worth approximately $79,000. Rhumbline Advisers raised its holdings in Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after purchasing an additional 3,627 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lexeo Therapeutics by 12.3% during the second 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 in the last quarter. Finally, Cornell University bought a new stake in Lexeo Therapeutics during the first quarter worth approximately $1,980,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Lexeo Therapeutics Company Profile

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.