Leerink Partners Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $18.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price target lowered by Leerink Partners from $19.00 to $18.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $22.80.

Lexeo Therapeutics Trading Down 10.1 %

Lexeo Therapeutics stock opened at $3.99 on Monday. 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 12 month low of $2.32 and a 12 month high of $19.50. The company’s fifty day simple moving average is $4.09 and its 200-day simple moving average is $6.65. The stock has a market cap of $131.93 million, a P/E ratio of -1.26 and a beta of 3.85.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its earnings results on Monday, March 24th. The company reported ($0.78) EPS for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. As a group, sell-side analysts forecast that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Allostery Investments LP bought a new stake in shares of Lexeo Therapeutics during the 4th quarter worth $33,000. BNP Paribas Financial Markets raised its holdings in Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in Lexeo Therapeutics during the 4th quarter worth $46,000. JPMorgan Chase & Co. boosted its holdings in Lexeo Therapeutics by 135.6% during the third quarter. JPMorgan Chase & Co. now owns 10,278 shares of the company’s stock valued at $93,000 after acquiring an additional 5,915 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Lexeo Therapeutics in the fourth quarter valued at about $69,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.