Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $23.80 Consensus Target Price from Analysts

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $23.80.

A number of equities research analysts have recently issued reports on the stock. Chardan Capital upped their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. HC Wainwright increased their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Leerink Partners lowered their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th.

Lexeo Therapeutics Stock Up 5.1 %

Shares of LXEO opened at $8.23 on Thursday. The stock has a 50 day moving average price of $8.37 and a 200 day moving average price of $11.78. Lexeo Therapeutics has a one year low of $5.77 and a one year high of $22.33. 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 $272.17 million and a price-to-earnings ratio of -2.60.

Insider Transactions at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the business’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 sale, the chief executive officer now directly owns 120,695 shares in the company, valued at $977,629.50. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. purchased a new position in Lexeo Therapeutics in the third quarter valued at $11,307,000. Janus Henderson Group PLC lifted its stake in Lexeo Therapeutics by 18.9% during the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after purchasing an additional 599,203 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Lexeo Therapeutics in the third quarter valued at approximately $3,348,000. Verition Fund Management LLC increased its stake in Lexeo Therapeutics by 84.5% in the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after purchasing an additional 355,928 shares during the last quarter. Finally, Ikarian Capital LLC acquired a new stake in Lexeo Therapeutics during the third quarter worth approximately $2,325,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.