Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Average Recommendation of “Buy” by Brokerages

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given a consensus rating of “Buy” by the nine brokerages that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.00.

Several equities analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, July 16th. Baird R W upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. Robert W. Baird assumed coverage on shares of Lexeo Therapeutics in a report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Chardan Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a report on Monday, July 15th.

Lexeo Therapeutics Stock Up 1.4 %

Lexeo Therapeutics stock opened at $12.72 on Friday. The stock has a market cap of $419.00 million and a price-to-earnings ratio of -0.57. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $15.25 and its two-hundred day moving average price is $14.90. Lexeo Therapeutics has a 52 week low of $9.00 and a 52 week high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last released its 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). On average, analysts expect that Lexeo Therapeutics will post -2.65 EPS for the current fiscal year.

Insider Activity at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 26,969 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $16.50, for a total transaction of $444,988.50. Following the transaction, the chief executive officer now owns 148,726 shares of the company’s stock, valued at $2,453,979. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of institutional investors have recently modified their holdings of LXEO. Eventide Asset Management LLC bought a new position in shares of Lexeo Therapeutics in the fourth quarter valued at approximately $40,298,000. Omega Fund Management LLC acquired a new stake in shares of Lexeo Therapeutics in the fourth quarter worth $28,955,000. Blackstone Inc. acquired a new stake in Lexeo Therapeutics during the fourth quarter worth $9,342,000. RA Capital Management L.P. acquired a new position in Lexeo Therapeutics in the first quarter worth about $10,364,000. Finally, Janus Henderson Group PLC lifted its position in shares of Lexeo Therapeutics by 9.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after buying an additional 210,047 shares during the period. Institutional investors own 60.67% of the company’s stock.

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.