Analysts Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Target Price at $22.14

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $22.14.

LXEO has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Chardan Capital reiterated a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research report on Wednesday, August 14th. HC Wainwright lowered their target price on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird initiated coverage on Lexeo Therapeutics in a research report on Thursday, June 13th. They set an “outperform” rating and a $28.00 target price for the company. Finally, Baird R W upgraded Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $11.53, for a total value of $57,650.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, valued at $1,391,613.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 36,969 shares of company stock worth $555,889 over the last three months. 4.50% of the stock is owned by insiders.

Institutional Trading of Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after purchasing an additional 3,483 shares during the period. Rhumbline Advisers increased its stake in Lexeo Therapeutics by 37.3% in 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 during the period. BNP Paribas Financial Markets purchased a new stake in Lexeo Therapeutics in the first quarter worth $75,000. American International Group Inc. purchased a new stake in Lexeo Therapeutics in the first quarter worth $79,000. Finally, Vanguard Group Inc. increased its stake in Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after purchasing an additional 65,573 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Trading Down 0.8 %

Shares of LXEO opened at $9.59 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38. Lexeo Therapeutics has a 1 year low of $9.00 and a 1 year high of $22.33. The company has a 50 day simple moving average of $12.07 and a two-hundred day simple moving average of $13.79. The firm has a market cap of $315.94 million and a P/E ratio of -0.43.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.64). On average, equities analysts expect that Lexeo Therapeutics will post -2.74 earnings per share for the current fiscal year.

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.