Royal Bank of Canada Lowers Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $20.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective lowered by research analysts at Royal Bank of Canada from $24.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 401.25% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Leerink Partners decreased their target price on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Monday. Chardan Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lexeo Therapeutics has an average rating of “Buy” and a consensus price target of $22.80.

Lexeo Therapeutics Trading Down 10.1 %

Shares of NASDAQ:LXEO opened at $3.99 on Tuesday. The company has a market capitalization of $131.93 million, a PE ratio of -1.26 and a beta of 3.85. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 12-month low of $2.32 and a 12-month high of $19.50. The business’s fifty day simple moving average is $4.09 and its 200-day simple moving average is $6.65.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Monday, March 24th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.09. As a group, equities research analysts predict that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allostery Investments LP purchased a new position in shares of Lexeo Therapeutics in the fourth quarter worth about $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in Lexeo Therapeutics in the fourth quarter valued at approximately $46,000. BNP Paribas Financial Markets increased its holdings in Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after buying an additional 3,591 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Lexeo Therapeutics during the 4th quarter worth approximately $69,000. Finally, SG Americas Securities LLC acquired a new stake in Lexeo Therapeutics during the 4th quarter valued at approximately $72,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.