Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Recommendation of "Buy" by Analysts

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) has received an average recommendation of "Buy" from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $23.80.

LXEO has been the subject of several recent analyst reports. Chardan Capital raised their price objective 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. Royal Bank of Canada restated an "outperform" rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. HC Wainwright lifted their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Leerink Partners cut 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, November 13th.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock traded up $0.50 during mid-day trading on Thursday, hitting $7.83. The stock had a trading volume of 228,868 shares, compared to its average volume of 250,042. Lexeo Therapeutics has a fifty-two week low of $5.77 and a fifty-two week high of $22.33. The firm has a market cap of $258.91 million and a PE ratio of -2.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. The company's 50-day simple moving average is $8.48 and its 200-day simple moving average is $11.86.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company's stock, valued at $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Lexeo Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 50,210 shares of the company's stock worth $454,000 after purchasing an additional 31,057 shares in the last quarter. Geode Capital Management LLC raised its holdings in Lexeo Therapeutics by 86.5% in the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company's stock valued at $5,003,000 after acquiring an additional 256,635 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in Lexeo Therapeutics in the third quarter valued at $11,307,000. Jane Street Group LLC raised its holdings in Lexeo Therapeutics by 33.3% in the third quarter. Jane Street Group LLC now owns 35,677 shares of the company's stock valued at $323,000 after acquiring an additional 8,918 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Lexeo Therapeutics by 134.8% in the third quarter. Wellington Management Group LLP now owns 51,892 shares of the company's stock valued at $469,000 after acquiring an additional 29,791 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.