Lexeo Therapeutics (NASDAQ:LXEO) Announces Quarterly Earnings Results, Hits Estimates

Lexeo Therapeutics (NASDAQ:LXEO) issued its quarterly earnings data on Monday. The company reported ($0.64) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.64), Zacks reports.

Lexeo Therapeutics Trading Up 1.7 %

Shares of LXEO stock traded up $0.20 during trading hours on Wednesday, hitting $11.90. 114,785 shares of the company were exchanged, compared to its average volume of 187,906. The firm has a fifty day moving average of $14.51 and a 200 day moving average of $14.60. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 1 year low of $9.00 and a 1 year high of $22.33. The firm has a market cap of $392.05 million and a PE ratio of -0.52.

Analysts Set New Price Targets

Several equities analysts have weighed in on LXEO shares. HC Wainwright dropped their price target on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Chardan Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Lexeo Therapeutics in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a report on Tuesday. Robert W. Baird began coverage on shares of Lexeo Therapeutics in a report on Thursday, June 13th. They set an “outperform” rating and a $28.00 price target for the company. Finally, Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.14.

Insider Activity at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $11.53, for a total transaction of $57,650.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $1,391,613.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.50% of the stock is owned by insiders.

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.