Lexeo Therapeutics (NASDAQ:LXEO) Issues Quarterly Earnings Results

Lexeo Therapeutics (NASDAQ:LXEO) issued its quarterly earnings data on Monday. The company reported ($0.64) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.64), Zacks reports.

Lexeo Therapeutics Stock Performance

Shares of LXEO traded up $0.22 during midday trading on Wednesday, hitting $11.92. 119,613 shares of the stock traded hands, compared to its average volume of 187,937. 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. The business’s 50 day moving average price is $14.51 and its two-hundred day moving average price is $14.60. The firm has a market capitalization of $392.70 million and a PE ratio of -0.52.

Wall Street Analysts Forecast Growth

LXEO has been the topic of several analyst reports. HC Wainwright lowered their price target on shares of Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday. Chardan Capital reissued a “buy” rating and set a $23.00 price target on shares of Lexeo Therapeutics in a research report on Wednesday. Baird R W raised Lexeo Therapeutics to a “strong-buy” rating in a report on Thursday, June 13th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday. Finally, Robert W. Baird assumed coverage on Lexeo Therapeutics in a report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 target price 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $22.14.

Insider Activity at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.53, for a total value of $57,650.00. Following the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $1,391,613.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.50% 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.