Royal Bank of Canada Has Lowered Expectations for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

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

Other equities analysts also recently issued reports about the company. Chardan Capital restated a “buy” rating and issued a $25.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday. Leerink Partners lowered their target price on Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Buy” and an average price target of $22.80.

Lexeo Therapeutics Price Performance

LXEO opened at $4.44 on Tuesday. The company’s 50-day simple moving average is $4.12 and its two-hundred day simple moving average is $6.67. 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 stock has a market capitalization of $146.81 million, a P/E ratio of -1.41 and a beta of 3.85. Lexeo Therapeutics has a 52-week low of $2.32 and a 52-week high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. As a group, analysts predict that Lexeo Therapeutics will post -3.14 EPS for the current year.

Institutional Investors Weigh In On Lexeo Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in 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 purchasing an additional 576,059 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Lexeo Therapeutics in the third quarter worth about $11,307,000. Vestal Point Capital LP lifted its position in shares of Lexeo Therapeutics by 41.2% during the 4th quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company’s stock valued at $7,896,000 after buying an additional 350,000 shares in the last quarter. Woodline Partners LP lifted its position in shares of Lexeo Therapeutics by 0.8% during the 4th quarter. Woodline Partners LP now owns 858,691 shares of the company’s stock valued at $5,650,000 after buying an additional 6,730 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Lexeo Therapeutics by 84.5% during the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after acquiring an additional 355,928 shares during the period. 60.67% of the stock is currently 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.