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

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have earned an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.80.

A number of analysts have recently issued reports on LXEO shares. Chardan Capital increased their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a report 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 note on Tuesday, January 21st. HC Wainwright lifted their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Leerink Partners reduced their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th.

Lexeo Therapeutics Stock Up 9.4 %

Shares of NASDAQ:LXEO opened at $2.91 on Friday. The firm has a 50 day simple moving average of $4.75 and a 200 day simple moving average of $7.21. Lexeo Therapeutics has a 52 week low of $2.32 and a 52 week high of $19.50. 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 company has a market cap of $96.22 million, a PE ratio of -0.92 and a beta of 3.85.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Lexeo Therapeutics by 86.5% during the 3rd quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock valued at $5,003,000 after buying an additional 256,635 shares during the last quarter. State Street Corp lifted its stake in Lexeo Therapeutics by 29.4% in the third quarter. State Street Corp now owns 253,946 shares of the company’s stock valued at $2,296,000 after acquiring an additional 57,674 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in Lexeo Therapeutics in the third quarter valued at approximately $11,307,000. Barclays PLC grew its position in Lexeo Therapeutics by 162.2% in 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 in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Lexeo Therapeutics by 18.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after purchasing an additional 599,203 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

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.