Lexeo Therapeutics (NASDAQ:LXEO) Lifted to “Strong-Buy” at Baird R W

Baird R W upgraded shares of Lexeo Therapeutics (NASDAQ:LXEO) to a strong-buy rating in a research report released on Thursday, Zacks.com reports.

LXEO has been the topic of several other research reports. Robert W. Baird initiated coverage on shares of Lexeo Therapeutics in a report on Thursday. They set an outperform rating and a $28.00 price target on the stock. HC Wainwright initiated coverage on shares of Lexeo Therapeutics in a report on Thursday, June 6th. They set a buy rating and a $22.00 price target on the stock. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $22.00.

Lexeo Therapeutics Stock Performance

LXEO opened at $17.38 on Thursday. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The company has a market cap of $572.50 million and a price-to-earnings ratio of -0.78. The company’s 50 day moving average is $14.33 and its 200 day moving average is $14.80. Lexeo Therapeutics has a 12-month low of $9.00 and a 12-month high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.01). On average, equities research analysts predict that Lexeo Therapeutics will post -2.65 EPS for the current year.

Institutional Trading of Lexeo Therapeutics

A number of large investors have recently made changes to their positions in the stock. RA Capital Management L.P. purchased a new stake in shares of Lexeo Therapeutics during the first quarter valued at $10,364,000. Artal Group S.A. lifted its stake in Lexeo Therapeutics by 32.9% in the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after acquiring an additional 198,281 shares during the period. Janus Henderson Group PLC lifted its stake in Lexeo Therapeutics by 9.0% in the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after acquiring an additional 210,047 shares during the period. American International Group Inc. purchased a new stake in Lexeo Therapeutics in the first quarter worth about $79,000. Finally, Vanguard Group Inc. lifted its stake in Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after acquiring an additional 65,573 shares during the period. 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.