Lexeo Therapeutics’ (LXEO) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a report issued on Wednesday morning, Benzinga reports. Chardan Capital currently has a $23.00 price objective on the stock.

Several other analysts have also recently issued reports on the company. HC Wainwright reduced their price objective on Lexeo Therapeutics from $22.00 to $21.00 and set a buy rating on the stock in a research note on Tuesday. Royal Bank of Canada restated an outperform rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday. Baird R W upgraded Lexeo Therapeutics to a strong-buy rating in a research note on Thursday, June 13th. Finally, Robert W. Baird began coverage on Lexeo Therapeutics in a research note on Thursday, June 13th. They issued an outperform rating and a $28.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lexeo Therapeutics presently has an average rating of Buy and an average price target of $22.14.

Lexeo Therapeutics Trading Up 2.6 %

Shares of LXEO traded up $0.30 during midday trading on Wednesday, hitting $11.99. 25,440 shares of the stock were exchanged, compared to its average volume of 188,043. Lexeo Therapeutics has a 52-week low of $9.00 and a 52-week high of $22.33. The stock has a fifty day simple moving average of $14.40 and a 200 day simple moving average of $14.58. The firm has a market cap of $395.01 million and a P/E ratio of -0.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 9.16.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, hitting the consensus estimate of ($0.64). On average, research analysts anticipate that Lexeo Therapeutics will post -2.65 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Lexeo Therapeutics during the first quarter worth about $75,000. American International Group Inc. purchased a new position in shares of Lexeo Therapeutics during the first quarter worth about $79,000. Rhumbline Advisers grew its holdings in shares of 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 buying an additional 3,627 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Lexeo Therapeutics by 12.3% during the second 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 last quarter. Finally, Cornell University purchased a new position in shares of Lexeo Therapeutics during the first quarter worth about $1,980,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.