Lexeo Therapeutics (NASDAQ:LXEO) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $23.00 target price on the stock.

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

Lexeo Therapeutics Trading Down 10.1 %

Lexeo Therapeutics stock opened at $3.99 on Wednesday. Lexeo Therapeutics has a 52 week low of $2.32 and a 52 week high of $19.50. 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 firm has a market capitalization of $131.93 million, a PE ratio of -1.26 and a beta of 3.85. The business’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $6.65.

Lexeo Therapeutics (NASDAQ:LXEO) last issued 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. Equities research analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of Lexeo Therapeutics by 5.6% in the 4th quarter. Bank of New York Mellon Corp now owns 50,660 shares of the company’s stock worth $333,000 after buying an additional 2,677 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Lexeo Therapeutics by 30.1% during the fourth quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company’s stock worth $88,000 after acquiring an additional 3,093 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Lexeo Therapeutics by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 11,156 shares of the company’s stock valued at $73,000 after acquiring an additional 3,714 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Lexeo Therapeutics by 19.6% in the 4th quarter. Rhumbline Advisers now owns 25,197 shares of the company’s stock worth $166,000 after purchasing an additional 4,127 shares during the last quarter. 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.