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

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given an average rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.80.

Several equities analysts have recently weighed in on the stock. HC Wainwright increased their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Leerink Partners reduced their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Finally, Chardan Capital increased their price target 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.

Insider Activity at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the completion of the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This represents a 3.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 10,000 shares of company stock worth $80,550. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Large investors have recently made changes to their positions in the business. Exome Asset Management LLC purchased a new stake in Lexeo Therapeutics during the 3rd quarter valued at approximately $797,000. Barclays PLC boosted its position in shares of Lexeo Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 50,210 shares of the company’s stock worth $454,000 after acquiring an additional 31,057 shares during the last quarter. Geode Capital Management LLC grew its stake in Lexeo Therapeutics by 86.5% during the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock valued at $5,003,000 after acquiring an additional 256,635 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in Lexeo Therapeutics in the 3rd quarter valued at $11,307,000. Finally, Jane Street Group LLC lifted its stake in Lexeo Therapeutics by 33.3% in the 3rd quarter. Jane Street Group LLC now owns 35,677 shares of the company’s stock worth $323,000 after purchasing an additional 8,918 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Lexeo Therapeutics Stock Up 4.0 %

LXEO stock opened at $6.28 on Monday. The company has a market cap of $207.65 million and a price-to-earnings ratio of -1.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. The business’s 50-day moving average is $7.91 and its two-hundred day moving average is $10.89. Lexeo Therapeutics has a fifty-two week low of $5.77 and a fifty-two week high of $22.33.

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.