Lexeo Therapeutics (NASDAQ:LXEO) Price Target Lowered to $19.00 at Leerink Partners

Lexeo Therapeutics (NASDAQ:LXEO) had its price target cut by Leerink Partners from $20.00 to $19.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

LXEO has been the subject of several other research reports. 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. 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. Finally, HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of Lexeo Therapeutics in a report on Thursday, October 31st. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.71.

Lexeo Therapeutics Price Performance

Lexeo Therapeutics stock opened at $7.69 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38. The firm has a market capitalization of $254.23 million and a P/E ratio of -0.52. Lexeo Therapeutics has a one year low of $7.47 and a one year high of $22.33. The business has a fifty day moving average price of $9.16 and a 200-day moving average price of $12.30.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.64). As a group, equities research analysts forecast that Lexeo Therapeutics will post -2.76 EPS for the current year.

Insider Activity

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $1,285,401.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 12,500 shares of company stock worth $113,300. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in Lexeo Therapeutics by 9.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after acquiring an additional 210,047 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Lexeo Therapeutics in the 1st quarter worth $75,000. American International Group Inc. purchased a new position in shares of Lexeo Therapeutics in the first quarter worth $79,000. Vanguard Group Inc. lifted its holdings in shares of Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after purchasing an additional 65,573 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted 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 valued at $510,000 after buying an additional 3,483 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

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.