Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives Average Recommendation of “Buy” from Brokerages

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.14.

A number of equities analysts have recently issued reports on the stock. Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. HC Wainwright decreased their price objective on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Robert W. Baird initiated coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 13th. They set an “outperform” rating and a $28.00 target price on the stock. Finally, Chardan Capital reiterated a “buy” rating and set a $23.00 price target on shares of Lexeo Therapeutics in a research report on Wednesday, August 14th.

Lexeo Therapeutics Trading Down 1.1 %

Shares of LXEO opened at $12.05 on Tuesday. The stock has a fifty day moving average price of $13.60 and a two-hundred day moving average price of $14.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. The company has a market cap of $396.99 million and a price-to-earnings ratio of -0.54. Lexeo Therapeutics has a 52-week low of $9.00 and a 52-week high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.64). Analysts predict that Lexeo Therapeutics will post -2.65 EPS for the current fiscal year.

Insider Activity at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.53, for a total transaction of $57,650.00. Following the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $1,391,613.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LXEO. BNP Paribas Financial Markets bought a new stake in shares of Lexeo Therapeutics in the first quarter worth about $75,000. American International Group Inc. acquired a new position in shares of Lexeo Therapeutics in the 1st quarter valued at approximately $79,000. Rhumbline Advisers increased its stake in 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 purchasing an additional 3,627 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lexeo Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after buying an additional 3,483 shares during the period. Finally, Cornell University acquired a new position in shares of Lexeo Therapeutics in the first quarter valued at approximately $1,980,000. 60.67% of the stock is currently owned by institutional investors.

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.