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

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has received a consensus rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $22.00.

A number of analysts recently issued reports on the company. Baird R W upgraded Lexeo Therapeutics to a “strong-buy” rating in a report on Thursday, June 13th. Robert W. Baird started coverage on Lexeo Therapeutics in a report on Thursday, June 13th. They set an “outperform” rating and a $28.00 target price for the company. Finally, HC Wainwright started coverage on Lexeo Therapeutics in a report on Thursday, June 6th. They set a “buy” rating and a $22.00 target price for the company.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds have recently made changes to their positions in the company. Blackstone Inc. purchased a new stake in Lexeo Therapeutics in the fourth quarter valued at $9,342,000. Omega Fund Management LLC purchased a new stake in Lexeo Therapeutics in the fourth quarter valued at $28,955,000. Eventide Asset Management LLC purchased a new stake in Lexeo Therapeutics in the fourth quarter valued at $40,298,000. Vanguard Group Inc. boosted its holdings in Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after purchasing an additional 65,573 shares during the last quarter. Finally, American International Group Inc. purchased a new stake in Lexeo Therapeutics in the first quarter valued at $79,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Lexeo Therapeutics Stock Up 7.9 %

Shares of NASDAQ LXEO opened at $16.04 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. The firm has a market capitalization of $528.36 million and a price-to-earnings ratio of -0.72. The stock has a 50 day moving average price of $15.01 and a 200 day moving average price of $15.01. Lexeo Therapeutics has a 52-week low of $9.00 and a 52-week high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.01). Sell-side analysts expect that Lexeo Therapeutics will post -2.65 earnings per share for the current year.

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.