Lexeo Therapeutics (NASDAQ:LXEO) Earns Buy Rating from HC Wainwright

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $21.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 165.82% from the stock's previous close.

Several other research firms also recently commented on LXEO. Royal Bank of Canada reiterated an "outperform" rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Chardan Capital reaffirmed a "buy" rating and set a $23.00 price target on shares of Lexeo Therapeutics in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $22.14.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO traded down $0.38 during trading on Thursday, hitting $7.90. 325,727 shares of the company were exchanged, compared to its average volume of 219,030. Lexeo Therapeutics has a 1-year low of $7.54 and a 1-year high of $22.33. The company has a market capitalization of $261.18 million and a P/E ratio of -0.35. 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 moving average is $9.79 and its 200-day moving average is $12.57.

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

Insider Activity

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $10.65, for a total transaction of $53,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $1,285,401.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 15,000 shares of company stock valued at $151,400. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new position in Lexeo Therapeutics during the third quarter worth $67,000. BNP Paribas Financial Markets purchased a new position in Lexeo Therapeutics during the first quarter worth about $75,000. American International Group Inc. bought a new stake in Lexeo Therapeutics in the 1st quarter worth about $79,000. Rhumbline Advisers increased its stake in Lexeo Therapeutics by 37.3% in 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 during the last quarter. Finally, Bank of New York Mellon Corp increased 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 valued at $510,000 after buying an additional 3,483 shares during the last quarter. 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.