Lexeo Therapeutics (NASDAQ:LXEO) Given New $20.00 Price Target at Royal Bank of Canada

Lexeo Therapeutics (NASDAQ:LXEO) had its price target trimmed by Royal Bank of Canada from $24.00 to $20.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also weighed in on the company. Leerink Partners cut their price objective on Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday. Chardan Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Buy” and an average price target of $22.80.

Lexeo Therapeutics Trading Up 3.0 %

Shares of LXEO stock opened at $4.11 on Tuesday. The stock’s fifty day moving average is $4.07 and its two-hundred day moving average is $6.63. 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 capitalization of $135.90 million, a P/E ratio of -1.30 and a beta of 3.85. Lexeo Therapeutics has a fifty-two week low of $2.32 and a fifty-two week high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Monday, March 24th. The company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.09. Research analysts expect that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Trading of Lexeo Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its stake in shares of Lexeo Therapeutics by 15.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company’s stock valued at $28,508,000 after acquiring an additional 576,059 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Lexeo Therapeutics during the third quarter valued at approximately $11,307,000. Vestal Point Capital LP grew its stake in 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 last quarter. Woodline Partners LP increased its holdings in shares of Lexeo Therapeutics by 0.8% in the 4th quarter. Woodline Partners LP now owns 858,691 shares of the company’s stock worth $5,650,000 after acquiring an additional 6,730 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Lexeo Therapeutics by 84.5% in the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after purchasing an additional 355,928 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.

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.