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

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have earned an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.80.

A number of research firms recently weighed in on LXEO. 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 report on Wednesday, November 13th. 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 note on Thursday, November 14th. Finally, Chardan Capital upped their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the completion of the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $977,629.50. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 10,000 shares of company stock worth $80,550 over the last three months. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of LXEO. Janus Henderson Group PLC grew its holdings in shares of Lexeo Therapeutics by 18.9% in the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after purchasing an additional 599,203 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new stake in Lexeo Therapeutics during the 3rd quarter valued at about $11,307,000. Vestal Point Capital LP boosted its position in Lexeo Therapeutics by 1.2% in the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock valued at $7,684,000 after buying an additional 10,000 shares during the period. Verition Fund Management LLC grew its stake in Lexeo Therapeutics by 84.5% in the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after acquiring an additional 355,928 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Lexeo Therapeutics by 86.5% during the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after acquiring an additional 256,635 shares during the period. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO opened at $6.28 on Monday. The company has a market cap of $207.65 million and a price-to-earnings ratio of -1.99. Lexeo Therapeutics has a 1 year low of $5.77 and a 1 year high of $22.33. The stock’s 50 day simple moving average is $7.91 and its two-hundred day simple moving average is $10.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95.

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.