Leerink Partners Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $18.00

Lexeo Therapeutics (NASDAQ:LXEO) had its target price dropped by research analysts at Leerink Partners from $19.00 to $18.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 305.41% from the stock’s previous close.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, January 21st. Five 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 an average rating of “Buy” and an average price target of $22.80.

Lexeo Therapeutics Price Performance

Shares of LXEO opened at $4.44 on Monday. Lexeo Therapeutics has a 12 month low of $2.32 and a 12 month high of $19.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. The stock has a fifty day moving average price of $4.12 and a 200 day moving average price of $6.67. The company has a market cap of $146.81 million, a P/E ratio of -1.41 and a beta of 3.85.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.09. On average, research analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Lexeo Therapeutics by 86.5% in the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock valued at $5,003,000 after buying an additional 256,635 shares during the period. State Street Corp grew its position in Lexeo Therapeutics by 29.4% during the third quarter. State Street Corp now owns 253,946 shares of the company’s stock valued at $2,296,000 after purchasing an additional 57,674 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Lexeo Therapeutics in the third quarter worth $11,307,000. Barclays PLC lifted its holdings in shares of Lexeo Therapeutics by 162.2% during the 3rd quarter. Barclays PLC now owns 50,210 shares of the company’s stock valued at $454,000 after buying an additional 31,057 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Lexeo Therapeutics by 18.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after purchasing an additional 599,203 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.