Chardan Capital Reiterates Buy Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating restated by analysts at Chardan Capital in a note issued to investors on Monday, Benzinga reports. They currently have a $23.00 target price on the stock. Chardan Capital’s target price would suggest a potential upside of 81.96% from the company’s previous close.

Several other equities analysts have also commented on the stock. Robert W. Baird started coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 13th. They set an “outperform” rating and a $28.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday. Finally, Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lexeo Therapeutics currently has an average rating of “Buy” and a consensus target price of $22.00.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock opened at $12.64 on Monday. Lexeo Therapeutics has a one year low of $9.00 and a one year high of $22.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16. The company has a 50 day moving average price of $15.69 and a 200 day moving average price of $15.11. The firm has a market capitalization of $416.36 million and a price-to-earnings ratio of -0.57.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.01). Sell-side analysts anticipate that Lexeo Therapeutics will post -2.65 EPS for the current year.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 26,969 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $16.50, for a total value of $444,988.50. Following the completion of the sale, the chief executive officer now owns 148,726 shares of the company’s stock, valued at $2,453,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LXEO. Blackstone Inc. purchased a new position in shares of Lexeo Therapeutics in the fourth quarter valued at $9,342,000. Omega Fund Management LLC purchased a new position in shares of Lexeo Therapeutics in the fourth quarter valued at $28,955,000. Eventide Asset Management LLC purchased a new position in shares of Lexeo Therapeutics in the fourth quarter valued at $40,298,000. Cornell University purchased a new position in shares of Lexeo Therapeutics in the first quarter valued at $1,980,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Lexeo Therapeutics in the first quarter valued at $75,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.