Lexeo Therapeutics’ (LXEO) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a research note published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $24.00 price target on the stock.

LXEO has been the subject of several other reports. Leerink Partners decreased their price objective on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. 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 note on Wednesday, November 13th. Finally, HC Wainwright lifted their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.80.

Lexeo Therapeutics Stock Up 14.5 %

Shares of NASDAQ LXEO opened at $5.61 on Tuesday. The business has a 50-day moving average price of $6.71 and a 200 day moving average price of $9.31. The stock has a market cap of $185.52 million, a PE ratio of -1.78 and a beta of 3.08. 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 has a 52-week low of $4.67 and a 52-week high of $19.50.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted 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 during the period. Rhumbline Advisers lifted its position in 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 purchasing an additional 3,627 shares during the period. Values First Advisors Inc. purchased a new stake in Lexeo Therapeutics in the 3rd quarter valued at approximately $67,000. Charles Schwab Investment Management Inc. increased its position in 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. Finally, BNP Paribas Financial Markets raised its stake in shares of Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after buying an additional 3,591 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.