What is Chardan Capital’s Forecast for LXEO FY2024 Earnings?

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) – Investment analysts at Chardan Capital cut their FY2024 earnings per share (EPS) estimates for shares of Lexeo Therapeutics in a research note issued on Wednesday, November 13th. Chardan Capital analyst G. Livshits now forecasts that the company will earn ($3.03) per share for the year, down from their prior forecast of ($2.93). Chardan Capital has a “Buy” rating and a $25.00 price objective on the stock. The consensus estimate for Lexeo Therapeutics’ current full-year earnings is ($3.05) per share. Chardan Capital also issued estimates for Lexeo Therapeutics’ FY2025 earnings at ($2.30) EPS.

Several other analysts have also commented on LXEO. HC Wainwright lifted their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Finally, Leerink Partners decreased their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.71.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO opened at $6.00 on Monday. The company has a market capitalization of $198.40 million and a P/E ratio of -1.93. The company’s 50-day moving average is $9.01 and its 200 day moving average is $12.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 5.95. Lexeo Therapeutics has a fifty-two week low of $5.81 and a fifty-two week high of $22.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted 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 valued at $50,000 after buying an additional 3,591 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Lexeo Therapeutics in the 3rd quarter valued at about $67,000. American International Group Inc. purchased a new stake in shares of Lexeo Therapeutics in the 1st quarter valued at about $79,000. MetLife Investment Management LLC boosted its position in shares of Lexeo Therapeutics by 121.5% during the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after acquiring an additional 7,803 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of 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 purchasing an additional 3,627 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.

Insider Activity

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total transaction of $53,250.00. Following the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $1,285,401.75. This represents a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is owned by corporate insiders.

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.