Leerink Partners Has Lowered Expectations for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its target price lowered by Leerink Partners from $20.00 to $19.00 in a report issued on Wednesday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of Lexeo Therapeutics in a research note on Thursday, October 31st. Finally, Chardan Capital restated a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.71.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock opened at $6.65 on Wednesday. The stock has a market cap of $219.85 million and a P/E ratio of -2.10. 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 company has a fifty day moving average price of $9.01 and a two-hundred day moving average price of $12.23. Lexeo Therapeutics has a one year low of $6.65 and a one year high of $22.33.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 12,500 shares of company stock valued at $113,300. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC increased 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 valued at $39,802,000 after buying an additional 210,047 shares during the period. BNP Paribas Financial Markets bought a new position in Lexeo Therapeutics in the 1st quarter valued at about $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics in the 1st quarter valued at about $79,000. Vanguard Group Inc. increased its holdings in Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after buying an additional 65,573 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Lexeo Therapeutics by 12.3% in the 2nd 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 period. 60.67% of the stock is 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.