HC Wainwright Trims Lexeo Therapeutics (NASDAQ:LXEO) Target Price to $21.00

Lexeo Therapeutics (NASDAQ:LXEO) had its target price lowered by HC Wainwright from $22.00 to $21.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 84.37% from the stock’s previous close.

Several other research firms have also recently commented on LXEO. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday. Baird R W upgraded Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. Finally, Robert W. Baird began coverage on shares of Lexeo Therapeutics in a research note on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.14.

Lexeo Therapeutics Stock Performance

Shares of LXEO traded down $0.59 during midday trading on Tuesday, hitting $11.39. 76,010 shares of the stock traded hands, compared to its average volume of 187,770. The firm has a market capitalization of $375.24 million and a PE ratio of -0.51. The business’s 50 day moving average price is $14.62 and its two-hundred day moving average price is $14.64. Lexeo Therapeutics has a 1-year low of $9.00 and a 1-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.

Insider Buying and Selling at Lexeo Therapeutics

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

Institutional Investors Weigh In On Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in LXEO. BNP Paribas Financial Markets acquired a new stake in shares of Lexeo Therapeutics in the first quarter worth about $75,000. American International Group Inc. acquired a new stake in Lexeo Therapeutics in the 1st quarter worth approximately $79,000. Rhumbline Advisers boosted its position in Lexeo Therapeutics by 37.3% during 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. Bank of New York Mellon Corp boosted its holdings in shares of Lexeo Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after buying an additional 3,483 shares during the period. Finally, Cornell University bought a new position in Lexeo Therapeutics in the 1st quarter worth $1,980,000. 60.67% of the stock is 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.