Lexeo Therapeutics (NASDAQ:LXEO) Stock Price Expected to Rise, Chardan Capital Analyst Says

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective hoisted by stock analysts at Chardan Capital from $23.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s price objective would suggest a potential upside of 221.34% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Leerink Partners lowered their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of Lexeo Therapeutics in a report on Thursday, October 31st. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.71.

Lexeo Therapeutics Trading Up 1.8 %

NASDAQ LXEO opened at $7.78 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 9.38. The firm has a market cap of $257.21 million and a price-to-earnings ratio of -2.49. The firm has a 50 day simple moving average of $9.16 and a 200-day simple moving average of $12.30. Lexeo Therapeutics has a one year low of $7.47 and a one year high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, meeting the consensus estimate of ($0.64). Equities research analysts anticipate that Lexeo Therapeutics will post -2.76 EPS for the current fiscal year.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXEO. BNP Paribas Financial Markets acquired a new position in shares of Lexeo Therapeutics in the 1st quarter valued at $75,000. American International Group Inc. purchased a new position in Lexeo Therapeutics during the 1st quarter worth $79,000. Values First Advisors Inc. acquired a new position in Lexeo Therapeutics in the third quarter valued at $67,000. Rhumbline Advisers raised its holdings in shares of Lexeo Therapeutics by 37.3% in the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after buying an additional 3,627 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of 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. 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.