Lexeo Therapeutics (NASDAQ:LXEO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its target price raised by equities researchers at HC Wainwright from $21.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target would indicate a potential upside of 195.63% from the stock's previous close.

Several other brokerages have also issued reports on LXEO. 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 report on Wednesday. Leerink Partners dropped their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Eight 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 presently has an average rating of "Buy" and an average price target of $22.71.

Lexeo Therapeutics Stock Performance

NASDAQ LXEO traded up $0.14 during trading hours on Thursday, reaching $7.78. 1,027,288 shares of the company were exchanged, compared to its average volume of 247,928. The stock has a market capitalization of $257.21 million and a P/E ratio of -2.49. The company has a quick ratio of 9.38, a current ratio of 9.38 and a debt-to-equity ratio of 0.01. The business's 50 day simple moving average is $9.16 and its 200-day simple moving average is $12.30. Lexeo Therapeutics has a 1 year low of $7.47 and a 1 year high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.64) EPS for the quarter, meeting the consensus estimate of ($0.64). On average, equities research analysts expect that Lexeo Therapeutics will post -2.76 earnings per share for the current year.

Insider Buying and Selling at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the company's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the sale, the chief executive officer now directly owns 120,695 shares of the company's stock, valued at $977,629.50. This represents a 3.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 12,500 shares of company stock valued at $113,300. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Lexeo Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Lexeo Therapeutics by 9.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company's stock worth $39,802,000 after buying an additional 210,047 shares during the period. BNP Paribas Financial Markets bought a new position in Lexeo Therapeutics in the 1st quarter worth about $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics in the 1st quarter worth about $79,000. Vanguard Group Inc. boosted its stake in Lexeo Therapeutics by 15.8% in the 1st 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. Finally, Bank of New York Mellon Corp boosted its stake in Lexeo Therapeutics by 12.3% in the 2nd 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. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.