HC Wainwright Reaffirms Buy Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 459.61% from the stock’s current price.

Other research analysts have also issued reports about the stock. Leerink Partners decreased their target price on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday. Royal Bank of Canada reduced their price target on Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Chardan Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.80.

Lexeo Therapeutics Stock Up 3.0 %

LXEO stock opened at $4.11 on Wednesday. The firm has a 50-day simple moving average of $4.07 and a 200-day simple moving average of $6.63. Lexeo Therapeutics has a 52 week low of $2.32 and a 52 week high of $19.50. The stock has a market capitalization of $135.90 million, a P/E ratio of -1.30 and a beta of 3.85. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its earnings results on Monday, March 24th. The company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. Equities analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Lexeo Therapeutics by 107.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock worth $577,000 after purchasing an additional 33,013 shares during the period. BNP Paribas Financial Markets lifted its position in Lexeo Therapeutics by 184.2% in the third 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 during the last quarter. MetLife Investment Management LLC boosted its stake in 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 buying an additional 7,803 shares during the period. Vestal Point Capital LP increased its position in shares of Lexeo Therapeutics by 1.2% during the third quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock valued at $7,684,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after acquiring an additional 355,928 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.