HC Wainwright Reiterates “Buy” Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 459.61% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Chardan Capital reiterated a “buy” rating and set a $25.00 target price on shares of Lexeo Therapeutics in a report on Tuesday. Leerink Partners reduced their price objective on Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada decreased their target price on Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $22.80.

Lexeo Therapeutics Price Performance

LXEO opened at $4.11 on Wednesday. The stock’s 50-day moving average price is $4.07 and its 200 day moving average price is $6.63. Lexeo Therapeutics has a 12-month low of $2.32 and a 12-month high of $19.50. The firm has a market cap of $135.90 million, a price-to-earnings ratio of -1.30 and a beta of 3.85. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01.

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

Institutional Trading of Lexeo Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allostery Investments LP acquired a new position in shares of Lexeo Therapeutics during the 4th quarter worth about $33,000. China Universal Asset Management Co. Ltd. acquired a new stake in Lexeo Therapeutics during the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets boosted its stake in Lexeo Therapeutics by 184.2% in the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after acquiring an additional 3,591 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Lexeo Therapeutics during the 4th quarter worth $69,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Lexeo Therapeutics in the fourth quarter valued at about $72,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.