Lexeo Therapeutics (NASDAQ:LXEO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective hoisted by HC Wainwright from $21.00 to $23.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently weighed in on LXEO. Leerink Partners decreased 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, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Finally, Chardan Capital boosted their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Buy” and an average price target of $22.71.

Lexeo Therapeutics Stock Down 14.5 %

Lexeo Therapeutics stock opened at $6.65 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 9.38. Lexeo Therapeutics has a fifty-two week low of $6.65 and a fifty-two week high of $22.33. The firm has a fifty day moving average price of $9.01 and a two-hundred day moving average price of $12.23. The firm has a market cap of $219.92 million and a price-to-earnings ratio of -2.10.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,500 shares of company stock valued at $113,300 over the last ninety days. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in LXEO. BNP Paribas Financial Markets lifted its holdings in Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after purchasing an additional 3,591 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Lexeo Therapeutics during the third quarter worth approximately $67,000. American International Group Inc. bought a new position in shares of Lexeo Therapeutics in the first quarter valued at approximately $79,000. MetLife Investment Management LLC boosted its holdings in shares of Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after acquiring an additional 7,803 shares in the last quarter. Finally, Rhumbline Advisers grew its position 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. Institutional investors and hedge funds 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.