FY2024 Earnings Forecast for LXEO Issued By Leerink Partnrs

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) – Equities researchers at Leerink Partnrs reduced their FY2024 earnings per share estimates for shares of Lexeo Therapeutics in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst M. Foroohar now forecasts that the company will post earnings of ($3.04) per share for the year, down from their previous forecast of ($2.65). The consensus estimate for Lexeo Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Lexeo Therapeutics’ Q4 2024 earnings at ($0.73) EPS, FY2025 earnings at ($3.00) EPS, FY2026 earnings at ($2.55) EPS and FY2027 earnings at ($2.51) EPS.

Other equities research analysts also recently issued research reports about the stock. Leerink Partners cut their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Chardan Capital boosted their target price 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 raised their price target on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lexeo Therapeutics currently has a consensus rating of “Buy” and an average target price of $22.71.

Lexeo Therapeutics Price Performance

NASDAQ LXEO opened at $6.00 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 9.38. The firm has a market capitalization of $198.40 million and a price-to-earnings ratio of -1.93. The company has a 50 day simple moving average of $9.01 and a 200-day simple moving average of $12.23. Lexeo Therapeutics has a 52-week low of $5.81 and a 52-week high of $22.33.

Insider Buying and Selling at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $1,285,401.75. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 12,500 shares of company stock worth $113,300 over the last three months. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several large investors have recently made changes to their positions in LXEO. Geode Capital Management LLC increased its position in Lexeo Therapeutics by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after buying an additional 256,635 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in shares of Lexeo Therapeutics in the third quarter worth $11,307,000. Barclays PLC increased its position in Lexeo Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 50,210 shares of the company’s stock worth $454,000 after acquiring an additional 31,057 shares during the period. Jane Street Group LLC raised its stake in Lexeo Therapeutics by 33.3% during the 3rd quarter. Jane Street Group LLC now owns 35,677 shares of the company’s stock valued at $323,000 after purchasing an additional 8,918 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Lexeo Therapeutics by 134.8% in the 3rd quarter. Wellington Management Group LLP now owns 51,892 shares of the company’s stock valued at $469,000 after purchasing an additional 29,791 shares during the period. 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.