Royal Bank of Canada Reiterates Outperform Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $24.00 target price on the stock. Royal Bank of Canada's price objective points to a potential upside of 391.80% from the company's previous close.

LXEO has been the topic of a number of other research reports. Leerink Partners decreased their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Chardan Capital lifted their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, HC Wainwright upped their price target on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Lexeo Therapeutics presently has an average rating of "Buy" and a consensus price target of $23.80.

Lexeo Therapeutics Trading Down 3.7 %

Shares of LXEO traded down $0.19 during mid-day trading on Tuesday, hitting $4.88. The company had a trading volume of 302,229 shares, compared to its average volume of 239,302. Lexeo Therapeutics has a 1-year low of $4.78 and a 1-year high of $19.50. The business's 50-day simple moving average is $6.82 and its 200-day simple moving average is $9.41. The stock has a market cap of $161.36 million, a PE ratio of -1.54 and a beta of 3.08. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in LXEO. Bank of New York Mellon Corp raised its holdings in shares of Lexeo Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company's stock valued at $510,000 after buying an additional 3,483 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Lexeo Therapeutics by 184.2% during 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 period. Rhumbline Advisers lifted its position in shares of Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company's stock worth $214,000 after purchasing an additional 3,627 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Lexeo Therapeutics by 135.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,278 shares of the company's stock valued at $93,000 after purchasing an additional 5,915 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Lexeo Therapeutics during the 3rd quarter worth $67,000. 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.