Lexeo Therapeutics (NASDAQ:LXEO) Price Target Lowered to $19.00 at Leerink Partners

Lexeo Therapeutics (NASDAQ:LXEO) had its target price dropped by research analysts at Leerink Partners from $20.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price target would suggest a potential upside of 144.22% from the company’s current price.

A number of other brokerages have also recently commented on LXEO. 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, August 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Lexeo Therapeutics in a research report on Thursday, October 31st. Finally, Chardan Capital restated a “buy” rating and set a $23.00 price target on shares of Lexeo Therapeutics in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lexeo Therapeutics has a consensus rating of “Buy” and a consensus price target of $22.71.

Lexeo Therapeutics Price Performance

Lexeo Therapeutics stock opened at $7.78 on Wednesday. The stock has a 50-day moving average price of $9.16 and a two-hundred day moving average price of $12.30. Lexeo Therapeutics has a 12 month low of $7.47 and a 12 month high of $22.33. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, hitting the consensus estimate of ($0.64). On average, equities research analysts expect that Lexeo Therapeutics will post -2.76 EPS for the current year.

Insider Activity at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $10.65, for a total transaction of $53,250.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $1,285,401.75. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 12,500 shares of company stock valued at $113,300. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock valued at $50,000 after buying an additional 3,591 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Lexeo Therapeutics in the 3rd quarter worth about $67,000. American International Group Inc. purchased a new stake in Lexeo Therapeutics during the 1st quarter valued at about $79,000. MetLife Investment Management LLC grew its position in Lexeo Therapeutics by 121.5% during the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after purchasing an additional 7,803 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after purchasing an additional 3,627 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.