Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Rating of “Buy” by Analysts

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given an average rating of “Buy” by the six analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $23.80.

Several analysts have weighed in on the stock. HC Wainwright boosted their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Chardan Capital increased their price objective on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners cut their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th.

Lexeo Therapeutics Price Performance

Shares of LXEO opened at $6.78 on Monday. Lexeo Therapeutics has a 52 week low of $5.77 and a 52 week high of $22.33. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a market cap of $224.19 million and a price-to-earnings ratio of -2.15. The stock has a 50 day moving average of $7.63 and a 200-day moving average of $10.49.

Insiders Place Their Bets

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $977,629.50. The trade was a 3.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 10,000 shares of company stock worth $80,550. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Frazier Life Sciences Management L.P. bought a new position in Lexeo Therapeutics in the 3rd quarter valued at about $11,307,000. Janus Henderson Group PLC boosted its holdings in shares of Lexeo Therapeutics by 18.9% in the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after acquiring an additional 599,203 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Lexeo Therapeutics during the third quarter valued at approximately $3,348,000. Verition Fund Management LLC raised its holdings in Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after purchasing an additional 355,928 shares in the last quarter. Finally, Ikarian Capital LLC acquired a new stake in Lexeo Therapeutics in the third quarter worth approximately $2,325,000. 60.67% of the stock is owned by institutional investors and hedge funds.

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.