Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives Average Rating of “Buy” from Brokerages

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.80.

Several analysts recently weighed in on LXEO shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, January 21st. 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 report on Wednesday, November 13th. HC Wainwright increased their price objective on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Chardan Capital lifted their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Lexeo Therapeutics Stock Performance

LXEO stock opened at $4.62 on Tuesday. The stock’s fifty day moving average is $6.35 and its two-hundred day moving average is $8.58. The stock has a market capitalization of $152.76 million, a price-to-earnings ratio of -1.46 and a beta of 2.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. Lexeo Therapeutics has a 1 year low of $4.23 and a 1 year high of $19.50.

Institutional Trading of Lexeo Therapeutics

A number of institutional investors have recently made changes to their positions in LXEO. Geode Capital Management LLC grew its holdings in Lexeo Therapeutics by 86.5% during the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after acquiring an additional 256,635 shares during the period. State Street Corp boosted its position in shares of Lexeo Therapeutics by 29.4% during the 3rd quarter. State Street Corp now owns 253,946 shares of the company’s stock valued at $2,296,000 after purchasing an additional 57,674 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in shares of Lexeo Therapeutics in the 3rd quarter worth approximately $11,307,000. Barclays PLC raised its holdings in shares of Lexeo Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 50,210 shares of the company’s stock worth $454,000 after purchasing an additional 31,057 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Lexeo Therapeutics by 18.9% during the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after purchasing an additional 599,203 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.