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

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given an average rating of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $23.80.

LXEO has been the subject of several recent research reports. Chardan Capital raised their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Leerink Partners cut their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report 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 report on Tuesday, August 13th. Finally, HC Wainwright raised their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Lexeo Therapeutics Stock Performance

LXEO opened at $7.83 on Thursday. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 12-month low of $5.77 and a 12-month high of $22.33. The firm has a 50 day moving average of $8.48 and a two-hundred day moving average of $11.86. The firm has a market capitalization of $258.91 million and a PE ratio of -2.48.

Insider Transactions at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 12,500 shares of company stock valued at $113,300 in the last three months. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after purchasing an additional 3,483 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after buying an additional 3,591 shares in the last quarter. Rhumbline Advisers increased its stake in shares of 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 acquiring an additional 3,627 shares during the last quarter. American International Group Inc. acquired a new stake in shares of Lexeo Therapeutics in the 1st quarter worth $79,000. Finally, Values First Advisors Inc. purchased a new position in shares of Lexeo Therapeutics during the 3rd quarter worth $67,000. Institutional investors and hedge funds 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.