Equities Analysts Set Expectations for LXEO FY2024 Earnings

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) – Leerink Partnrs cut their FY2024 earnings estimates for Lexeo Therapeutics in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst M. Foroohar now anticipates that the company will post earnings of ($3.04) per share for the year, down from their previous forecast of ($2.65). The consensus estimate for Lexeo Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Lexeo Therapeutics’ Q4 2024 earnings at ($0.73) EPS, FY2025 earnings at ($3.00) EPS, FY2026 earnings at ($2.55) EPS and FY2027 earnings at ($2.51) EPS.

A number of other research analysts have also recently commented on LXEO. HC Wainwright boosted their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Chardan Capital boosted their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Leerink Partners reduced their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.71.

Lexeo Therapeutics Price Performance

LXEO opened at $6.65 on Monday. The company has a quick ratio of 9.38, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52-week low of $6.65 and a 52-week high of $22.33. The company has a 50 day moving average of $9.01 and a two-hundred day moving average of $12.23. The company has a market cap of $219.92 million and a P/E ratio of -2.10.

Institutional Trading of Lexeo Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in shares of Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Lexeo Therapeutics during the third quarter worth about $67,000. American International Group Inc. bought a new position in shares of Lexeo Therapeutics during the first quarter worth about $79,000. MetLife Investment Management LLC grew its position in shares of Lexeo Therapeutics by 121.5% during the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after acquiring an additional 7,803 shares during the last quarter. Finally, Rhumbline Advisers grew its position 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 acquiring an additional 3,627 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the completion of the sale, the chief executive officer now owns 120,695 shares in the company, valued at $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 12,500 shares of company stock valued at $113,300 over the last ninety days. Corporate 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.