Leerink Partners Has Lowered Expectations for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective dropped by Leerink Partners from $19.00 to $18.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective would suggest a potential upside of 305.41% from the stock’s current price.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.80.

Lexeo Therapeutics Stock Performance

Shares of NASDAQ:LXEO opened at $4.44 on Monday. The business’s 50-day simple moving average is $4.12 and its 200 day simple moving average is $6.67. The company has a market cap of $146.81 million, a P/E ratio of -1.41 and a beta of 3.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. Lexeo Therapeutics has a one year low of $2.32 and a one year high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. On average, sell-side analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. bought a new position in Lexeo Therapeutics during the 3rd quarter worth approximately $11,307,000. Janus Henderson Group PLC lifted its stake in Lexeo Therapeutics by 18.9% during 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. Altium Capital Management LLC bought a new position in Lexeo Therapeutics during the fourth quarter worth $2,665,000. Point72 Asset Management L.P. increased its stake in Lexeo Therapeutics by 102.5% during the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock valued at $4,937,000 after purchasing an additional 379,828 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after purchasing an additional 355,928 shares during the period. 60.67% of the stock is currently 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.