Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $23.80 Consensus Price Target from Brokerages

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have received a consensus rating of “Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $23.80.

A number of analysts have commented on the company. Chardan Capital boosted their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Leerink Partners decreased their price objective on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, HC Wainwright raised their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 14th.

Lexeo Therapeutics Price Performance

LXEO stock opened at $6.78 on Monday. The firm has a 50 day moving average of $7.63 and a 200-day moving average of $10.59. The company has a market cap of $224.19 million and a price-to-earnings ratio of -2.15. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 12-month low of $5.77 and a 12-month high of $22.33.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now 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 SEC, which is available at the SEC website. In the last quarter, insiders sold 10,000 shares of company stock worth $80,550. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Lexeo Therapeutics by 135.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,278 shares of the company’s stock worth $93,000 after acquiring an additional 5,915 shares during the period. Exome Asset Management LLC acquired a new stake in Lexeo Therapeutics in the third quarter worth $797,000. Barclays PLC lifted its stake in Lexeo Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 50,210 shares of the company’s stock valued at $454,000 after buying an additional 31,057 shares during the last quarter. Geode Capital Management LLC grew its position in Lexeo Therapeutics by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after purchasing an additional 256,635 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Lexeo Therapeutics in the 3rd quarter valued at approximately $11,307,000. Institutional investors and hedge funds 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.