Analysts Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) PT at $23.80

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has received an average rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $23.80.

Several research firms have recently issued reports on LXEO. Chardan Capital raised their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Leerink Partners cut their price objective on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, HC Wainwright increased their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Lexeo Therapeutics Stock Up 2.3 %

Shares of NASDAQ LXEO opened at $6.35 on Monday. The stock has a market capitalization of $209.97 million and a price-to-earnings ratio of -2.01. Lexeo Therapeutics has a 12-month low of $5.77 and a 12-month high of $22.33. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $7.82 and its 200-day moving average price is $10.73.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the completion of the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 10,000 shares of company stock worth $80,550 over the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $510,000 after buying an additional 3,483 shares during the period. Rhumbline Advisers raised its holdings in shares of Lexeo Therapeutics by 37.3% in the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after acquiring an additional 3,627 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Lexeo Therapeutics in the third quarter worth about $67,000. Charles Schwab Investment Management Inc. grew its holdings in Lexeo Therapeutics by 107.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock worth $577,000 after acquiring an additional 33,013 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after purchasing an additional 3,591 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.