Royal Bank of Canada Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $20.00

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its price target reduced by equities research analysts at Royal Bank of Canada from $24.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price target suggests a potential upside of 387.80% from the stock's current price.

Several other analysts also recently commented on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday. Leerink Partners cut their price target on Lexeo Therapeutics from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $22.80.

Lexeo Therapeutics Stock Performance

Shares of NASDAQ LXEO traded down $0.01 during mid-day trading on Tuesday, hitting $4.10. The stock had a trading volume of 322,531 shares, compared to its average volume of 345,505. The company has a 50 day moving average of $4.05 and a two-hundred day moving average of $6.58. Lexeo Therapeutics has a twelve month low of $2.32 and a twelve month high of $19.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. The firm has a market cap of $136.11 million, a PE ratio of -1.30 and a beta of 3.85.

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Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.09. Research analysts predict that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Lexeo Therapeutics by 15.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company's stock valued at $28,508,000 after purchasing an additional 576,059 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Lexeo Therapeutics in the third quarter valued at approximately $11,307,000. Vestal Point Capital LP raised its stake in shares of Lexeo Therapeutics by 41.2% during the 4th quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company's stock worth $7,896,000 after buying an additional 350,000 shares during the period. Woodline Partners LP grew its stake in Lexeo Therapeutics by 0.8% in the 4th quarter. Woodline Partners LP now owns 858,691 shares of the company's stock valued at $5,650,000 after acquiring an additional 6,730 shares during the period. Finally, Verition Fund Management LLC grew its stake in Lexeo Therapeutics by 84.5% in the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company's stock valued at $7,027,000 after acquiring an additional 355,928 shares during the period. Institutional investors and hedge funds own 60.67% of the company's stock.

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.