Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Recommendation of “Buy” by Brokerages

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been given a consensus recommendation of “Buy” by the six ratings firms that are covering the firm, Marketbeat 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 twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.80.

A number of brokerages recently commented on LXEO. Leerink Partners decreased their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Chardan Capital increased their price target on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, HC Wainwright lifted their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

Lexeo Therapeutics Trading Down 5.5 %

LXEO stock opened at $5.19 on Friday. Lexeo Therapeutics has a 52 week low of $4.78 and a 52 week high of $22.33. The company’s 50-day simple moving average is $6.93 and its 200 day simple moving average is $9.62. The company has a market capitalization of $171.63 million, a PE ratio of -1.64 and a beta of 3.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LXEO. Bank of New York Mellon Corp grew its holdings in Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after purchasing an additional 3,483 shares during the period. BNP Paribas Financial Markets increased its holdings in Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares in the last quarter. Rhumbline Advisers grew its holdings in Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Lexeo Therapeutics by 135.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,278 shares of the company’s stock worth $93,000 after acquiring an additional 5,915 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Lexeo Therapeutics in the 3rd quarter valued at about $67,000. 60.67% of the stock is owned by institutional investors and hedge funds.

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.