Lexeo Therapeutics (NASDAQ:LXEO) Shares Gap Up to $14.86

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) shares gapped up prior to trading on Friday . The stock had previously closed at $14.86, but opened at $15.27. Lexeo Therapeutics shares last traded at $15.43, with a volume of 1,936 shares.

Analyst Upgrades and Downgrades

LXEO has been the subject of several recent research reports. Baird R W raised Lexeo Therapeutics to a “strong-buy” rating in a report on Thursday, June 13th. Robert W. Baird initiated coverage on Lexeo Therapeutics in a report on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, HC Wainwright initiated coverage on Lexeo Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $22.00 price objective for the company. Eight investment 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 an average rating of “Buy” and an average target price of $22.00.

Lexeo Therapeutics Trading Up 7.9 %

The firm has a 50 day simple moving average of $15.01 and a 200 day simple moving average of $14.98. 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 firm has a market cap of $528.36 million and a P/E ratio of -0.72.

Lexeo Therapeutics (NASDAQ:LXEO) last issued 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, equities research analysts predict that Lexeo Therapeutics, Inc. will post -2.65 EPS for the current fiscal year.

Institutional Trading of Lexeo Therapeutics

A number of large investors have recently modified their holdings of LXEO. Blackstone Inc. bought a new stake in shares of Lexeo Therapeutics during the 4th quarter valued at about $9,342,000. Omega Fund Management LLC bought a new stake in Lexeo Therapeutics in the 4th quarter worth approximately $28,955,000. Eventide Asset Management LLC bought a new stake in Lexeo Therapeutics in the 4th quarter worth approximately $40,298,000. Cornell University bought a new stake in Lexeo Therapeutics in the 1st quarter worth approximately $1,980,000. Finally, BNP Paribas Financial Markets bought a new stake in Lexeo Therapeutics in the 1st quarter worth approximately $75,000. 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.