Brokerages Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) PT at $23.80

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) has been given a consensus recommendation of "Buy" by the six ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $23.80.

LXEO has been the subject of several recent research reports. HC Wainwright boosted their price objective on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Leerink Partners reduced their price target 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. Finally, Chardan Capital lifted their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th.

Lexeo Therapeutics Trading Down 1.1 %

Shares of LXEO traded down $0.07 during mid-day trading on Monday, reaching $6.21. The company's stock had a trading volume of 105,344 shares, compared to its average volume of 252,414. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52 week low of $5.77 and a 52 week high of $22.33. The company's fifty day moving average price is $7.91 and its two-hundred day moving average price is $10.89. The stock has a market cap of $205.36 million and a PE ratio of -1.97.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm's stock in a transaction that occurred on 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 owns 120,695 shares in the company, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 10,000 shares of company stock worth $80,550 in the last three months. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of LXEO. Bank of New York Mellon Corp raised its position in Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company's stock worth $510,000 after acquiring an additional 3,483 shares during the period. Rhumbline Advisers grew its stake in shares of Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company's stock valued at $214,000 after acquiring an additional 3,627 shares during the period. Values First Advisors Inc. purchased a new stake in Lexeo Therapeutics in the 3rd quarter worth approximately $67,000. Charles Schwab Investment Management Inc. lifted its holdings in Lexeo Therapeutics by 107.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company's stock valued at $577,000 after purchasing an additional 33,013 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted 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 worth $50,000 after purchasing an additional 3,591 shares during the period. 60.67% of the stock is owned by institutional investors.

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.