Lexeo Therapeutics' (LXEO) "Buy" Rating Reaffirmed at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Lexeo Therapeutics (NASDAQ:LXEO - Free Report) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $23.00 price objective on the stock.

Several other research analysts have also recently issued reports on LXEO. HC Wainwright dropped their target price on Lexeo Therapeutics from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada reissued 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $22.14.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock traded down $0.40 during trading hours on Friday, reaching $9.50. The company had a trading volume of 152,671 shares, compared to its average volume of 214,918. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 9.38. The business has a fifty day moving average price of $10.05 and a 200-day moving average price of $12.67. Lexeo Therapeutics has a one year low of $7.86 and a one year high of $22.33. The firm has a market cap of $314.07 million and a PE ratio of -0.65.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, hitting analysts' consensus estimates of ($0.64). Sell-side analysts predict that Lexeo Therapeutics will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

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 owns 120,695 shares of the company's stock, valued at $977,629.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 15,000 shares of company stock valued at $151,400. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in shares of Lexeo Therapeutics by 12.3% during the second 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. Rhumbline Advisers grew its holdings in 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 buying an additional 3,627 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Lexeo Therapeutics during the first quarter valued at approximately $75,000. American International Group Inc. bought a new stake in shares of Lexeo Therapeutics during the first quarter valued at approximately $79,000. Finally, Values First Advisors Inc. purchased a new position in shares of Lexeo Therapeutics in the third quarter worth $67,000. 60.67% of the stock is owned by 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.