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

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.14.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. HC Wainwright cut their target price on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Robert W. Baird assumed coverage on shares of Lexeo Therapeutics in a research note on Thursday, June 13th. They set an “outperform” rating and a $28.00 price target for the company. Baird R W upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Chardan Capital restated a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a report on Wednesday, August 14th.

Insider Transactions at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total transaction of $53,250.00. Following the completion of the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $1,285,401.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Lexeo Therapeutics in the first quarter valued at approximately $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics during the 1st quarter valued at $79,000. Rhumbline Advisers boosted its holdings in Lexeo Therapeutics by 37.3% during 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. Bank of New York Mellon Corp grew its stake in shares of Lexeo Therapeutics by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after acquiring an additional 3,483 shares in the last quarter. Finally, Cornell University purchased a new stake in shares of Lexeo Therapeutics in the first quarter valued at about $1,980,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Lexeo Therapeutics Stock Performance

Lexeo Therapeutics stock opened at $8.75 on Wednesday. The company has a market cap of $288.27 million and a PE ratio of -0.39. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 1 year low of $8.22 and a 1 year high of $22.33. The company’s 50-day moving average is $10.87 and its two-hundred day moving average is $13.17.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, meeting the consensus estimate of ($0.64). Equities analysts anticipate that Lexeo Therapeutics will post -2.74 earnings per share for the current year.

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.