Lexeo Therapeutics (NASDAQ:LXEO) Shares Gap Up to $14.86

Lexeo Therapeutics, Inc. (NASDAQ:LXEO)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.86, but opened at $15.27. Lexeo Therapeutics shares last traded at $15.43, with a volume of 1,936 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird started coverage on Lexeo Therapeutics in a research note on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price objective for the company. Baird R W raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, HC Wainwright began coverage on shares of Lexeo Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $22.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $22.00.

Lexeo Therapeutics Price Performance

The stock has a market capitalization of $513.53 million and a PE ratio of -0.71. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $14.93 and its 200-day moving average price is $14.92.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.01). As a group, equities analysts forecast that Lexeo Therapeutics, Inc. will post -2.65 EPS for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Lexeo Therapeutics in the first quarter worth about $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics in the first quarter worth about $79,000. Cornell University bought a new position in Lexeo Therapeutics in the first quarter worth about $1,980,000. Vanguard Group Inc. increased its holdings in shares of Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after acquiring an additional 65,573 shares in the last quarter. Finally, RA Capital Management L.P. acquired a new position in shares of Lexeo Therapeutics during the first quarter valued at about $10,364,000. 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.