Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Rating of “Buy” by Analysts

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $22.14.

LXEO has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Lexeo Therapeutics in a report on Thursday, October 31st. Finally, Chardan Capital restated a “buy” rating and set a $23.00 price objective on shares of Lexeo Therapeutics in a research note on Friday, October 25th.

Insider Buying and Selling at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.53, for a total value of $57,650.00. Following the sale, the chief executive officer now owns 120,695 shares in the company, valued at approximately $1,391,613.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 15,000 shares of company stock valued at $151,400 in the last ninety days. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake 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 valued at $510,000 after purchasing an additional 3,483 shares in the last quarter. Rhumbline Advisers raised its position in shares of Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Lexeo Therapeutics in the 1st quarter worth approximately $75,000. American International Group Inc. bought a new position in shares of Lexeo Therapeutics in the first quarter valued at approximately $79,000. Finally, Values First Advisors Inc. acquired a new position in shares of Lexeo Therapeutics during the third quarter valued at approximately $67,000. Institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Trading Up 1.4 %

Shares of LXEO opened at $8.00 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 9.38. Lexeo Therapeutics has a one year low of $7.54 and a one year high of $22.33. The stock has a 50-day moving average price of $9.38 and a 200 day moving average price of $12.39. The company has a market capitalization of $264.48 million and a P/E ratio of -0.55.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.64). Sell-side analysts forecast that Lexeo Therapeutics will post -2.76 EPS for the current fiscal year.

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.