Lexeo Therapeutics (NASDAQ:LXEO) Given New $23.00 Price Target at HC Wainwright

Lexeo Therapeutics (NASDAQ:LXEO) had its target price boosted by HC Wainwright from $21.00 to $23.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Chardan Capital upped their price objective on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Leerink Partners cut their price objective on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday. 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, Lexeo Therapeutics currently has a consensus rating of “Buy” and an average target price of $22.71.

Lexeo Therapeutics Trading Down 14.1 %

Shares of LXEO stock traded down $1.10 during mid-day trading on Thursday, reaching $6.68. The stock had a trading volume of 733,317 shares, compared to its average volume of 250,136. The stock’s 50-day moving average price is $9.09 and its two-hundred day moving average price is $12.27. Lexeo Therapeutics has a 52-week low of $6.67 and a 52-week high of $22.33. The firm has a market capitalization of $220.84 million and a PE ratio of -2.28. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.64). Equities analysts expect that Lexeo Therapeutics will post -2.76 earnings per share for the current fiscal year.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 12,500 shares of company stock worth $113,300 over the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in 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 acquiring an additional 3,591 shares in the last quarter. Values First Advisors Inc. bought a new stake in Lexeo Therapeutics during the 3rd quarter valued at about $67,000. American International Group Inc. bought a new stake in Lexeo Therapeutics during the 1st quarter valued at about $79,000. MetLife Investment Management LLC lifted its holdings in Lexeo Therapeutics by 121.5% during the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after buying an additional 7,803 shares in the last quarter. Finally, Rhumbline Advisers increased its position 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 purchasing an additional 3,627 shares during the period. 60.67% of the stock is owned by hedge funds and other 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.