Lexeo Therapeutics (NASDAQ:LXEO) Price Target Lowered to $20.00 at Royal Bank of Canada

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective reduced by Royal Bank of Canada from $24.00 to $20.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on LXEO. Leerink Partners reduced their price target on Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday. Chardan Capital restated a “buy” rating and set a $25.00 target price on shares of Lexeo Therapeutics in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lexeo Therapeutics has an average rating of “Buy” and a consensus price target of $22.80.

Lexeo Therapeutics Trading Up 8.6 %

NASDAQ:LXEO opened at $4.44 on Tuesday. The company has a 50-day moving average price of $4.12 and a 200-day moving average price of $6.67. The stock has a market cap of $146.81 million, a price-to-earnings ratio of -1.41 and a beta of 3.85. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 12 month low of $2.32 and a 12 month high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.09. Equities analysts predict that Lexeo Therapeutics will post -3.14 EPS for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its stake in Lexeo Therapeutics by 15.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company’s stock worth $28,508,000 after purchasing an additional 576,059 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Lexeo Therapeutics in the third quarter worth about $11,307,000. Vestal Point Capital LP lifted its stake in shares of Lexeo Therapeutics by 41.2% in the fourth quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company’s stock worth $7,896,000 after buying an additional 350,000 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Lexeo Therapeutics by 0.8% during the fourth quarter. Woodline Partners LP now owns 858,691 shares of the company’s stock valued at $5,650,000 after buying an additional 6,730 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after acquiring an additional 355,928 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

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.