Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given a consensus rating of “Buy” by the six analysts that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.80.

Several research analysts have recently issued reports on the stock. Chardan Capital increased their price objective on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Leerink Partners decreased their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Finally, HC Wainwright raised their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Lexeo Therapeutics Stock Performance

Shares of LXEO opened at $7.83 on Thursday. The firm has a market capitalization of $258.91 million and a PE ratio of -2.48. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $8.48 and a 200 day moving average price of $11.86. Lexeo Therapeutics has a 52-week low of $5.77 and a 52-week high of $22.33.

Insider Transactions at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the sale, the chief executive officer now owns 120,695 shares in the company, valued at approximately $1,285,401.75. This represents a 3.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 12,500 shares of company stock valued at $113,300 over the last three months. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in LXEO. BNP Paribas Financial Markets grew its stake in Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after acquiring an additional 3,591 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Lexeo Therapeutics during the third quarter worth approximately $67,000. American International Group Inc. purchased a new position in Lexeo Therapeutics during the first quarter valued at approximately $79,000. MetLife Investment Management LLC increased its stake in Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after buying an additional 7,803 shares during the period. Finally, Rhumbline Advisers lifted its position in Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.