Royal Bank of Canada Lowers Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $20.00

Lexeo Therapeutics (NASDAQ:LXEO) had its target price reduced by research analysts at Royal Bank of Canada from $24.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 401.25% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Chardan Capital restated a “buy” rating and set a $25.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday. Leerink Partners lowered their price target on Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lexeo Therapeutics has a consensus rating of “Buy” and a consensus price target of $22.80.

Lexeo Therapeutics Stock Down 10.1 %

NASDAQ LXEO opened at $3.99 on Tuesday. The stock has a 50 day moving average price of $4.09 and a 200-day moving average price of $6.65. Lexeo Therapeutics has a one year low of $2.32 and a one year 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 company has a market capitalization of $131.93 million, a P/E ratio of -1.26 and a beta of 3.85.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Monday, March 24th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.09. As a group, equities analysts predict that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Institutional Trading of Lexeo Therapeutics

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