Lexeo Therapeutics (NASDAQ:LXEO) Earns Buy Rating from HC Wainwright

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 164.82% from the company’s previous close.

Several other research analysts also recently issued reports on LXEO. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Chardan Capital restated a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.14.

Lexeo Therapeutics Price Performance

LXEO stock opened at $7.93 on Thursday. The firm has a 50 day moving average of $9.71 and a 200-day moving average of $12.54. The company has a market cap of $262.17 million and a price-to-earnings ratio of -0.54. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 12-month low of $7.54 and a 12-month high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, meeting the consensus estimate of ($0.64). As a group, equities analysts expect that Lexeo Therapeutics will post -2.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $1,285,401.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 15,000 shares of company stock worth $151,400. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Lexeo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of LXEO. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 3,483 shares during the period. Rhumbline Advisers grew its holdings in Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after buying an additional 3,627 shares during the period. BNP Paribas Financial Markets purchased a new stake in Lexeo Therapeutics in the 1st quarter valued at about $75,000. American International Group Inc. purchased a new position in shares of Lexeo Therapeutics during the 1st quarter worth about $79,000. Finally, Values First Advisors Inc. purchased a new position in shares of Lexeo Therapeutics during the 3rd quarter worth about $67,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.