Lexeo Therapeutics (NASDAQ:LXEO) Price Target Raised to $23.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective increased by HC Wainwright from $21.00 to $23.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on LXEO. Chardan Capital raised their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Finally, Leerink Partners reduced their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lexeo Therapeutics currently has a consensus rating of “Buy” and an average price target of $22.71.

Lexeo Therapeutics Stock Down 14.5 %

Shares of NASDAQ:LXEO opened at $6.65 on Thursday. The company has a quick ratio of 9.38, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $9.01 and a two-hundred day moving average of $12.23. The stock has a market cap of $219.92 million and a P/E ratio of -2.10. Lexeo Therapeutics has a 52-week low of $6.65 and a 52-week high of $22.33.

Insider Activity

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $10.65, for a total value of $53,250.00. Following the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $1,285,401.75. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 12,500 shares of company stock valued at $113,300. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in Lexeo Therapeutics by 18.9% during the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after acquiring an additional 599,203 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Lexeo Therapeutics during the third quarter worth $11,307,000. Vestal Point Capital LP boosted its position in Lexeo Therapeutics by 1.2% during the third quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock worth $7,684,000 after purchasing an additional 10,000 shares in the last quarter. Artal Group S.A. boosted its position in Lexeo Therapeutics by 32.9% during the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after purchasing an additional 198,281 shares in the last quarter. Finally, Verition Fund Management LLC boosted 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 purchasing an additional 355,928 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.