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

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given an average recommendation of “Buy” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $23.80.

A number of equities research analysts have commented on LXEO shares. HC Wainwright increased their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Chardan Capital lifted their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Finally, Leerink Partners lowered their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is owned by company insiders.

Institutional Trading of Lexeo Therapeutics

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its position in shares of Lexeo Therapeutics by 18.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after buying an additional 599,203 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in Lexeo Therapeutics during the third quarter worth about $11,307,000. Vestal Point Capital LP raised its holdings in shares of Lexeo Therapeutics by 1.2% in the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock worth $7,684,000 after purchasing an additional 10,000 shares during the period. Verition Fund Management LLC grew its holdings in shares of Lexeo Therapeutics by 84.5% during the 3rd 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 during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Lexeo Therapeutics by 86.5% during the 3rd quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after purchasing an additional 256,635 shares during the period. 60.67% of the stock is owned by hedge funds and other institutional investors.

Lexeo Therapeutics Stock Up 2.2 %

LXEO stock opened at $8.41 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. The company’s 50 day simple moving average is $8.35 and its 200-day simple moving average is $11.73. Lexeo Therapeutics has a 12 month low of $5.77 and a 12 month high of $22.33. The firm has a market capitalization of $278.09 million and a PE ratio of -2.66.

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.