Lexeo Therapeutics (NASDAQ:LXEO) Receives “Outperform” Rating from Royal Bank of Canada

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $24.00 price objective on the stock. Royal Bank of Canada’s target price points to a potential upside of 389.80% from the company’s previous close.

LXEO has been the subject of a number of other reports. Chardan Capital lifted their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright lifted their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Leerink Partners lowered their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Buy” and an average target price of $23.80.

Lexeo Therapeutics Stock Up 0.4 %

Shares of Lexeo Therapeutics stock opened at $4.90 on Tuesday. The firm has a market cap of $162.04 million, a price-to-earnings ratio of -1.55 and a beta of 3.08. The stock has a 50-day simple moving average of $6.76 and a 200-day simple moving average of $9.34. Lexeo Therapeutics has a 52-week low of $4.78 and a 52-week high of $19.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of Lexeo Therapeutics by 184.2% in the third 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. Values First Advisors Inc. bought a new stake in Lexeo Therapeutics during the 3rd quarter valued at approximately $67,000. SG Americas Securities LLC acquired a new stake in Lexeo Therapeutics in the 4th quarter valued at approximately $72,000. JPMorgan Chase & Co. increased its position in Lexeo Therapeutics by 135.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,278 shares of the company’s stock worth $93,000 after buying an additional 5,915 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Lexeo Therapeutics by 121.5% during the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after buying an additional 7,803 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.