Chardan Capital Lowers Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $22.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price target reduced by analysts at Chardan Capital from $25.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities analysts also recently issued reports on LXEO. Leerink Partners reduced their price objective on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada reduced their target price on shares of Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Finally, HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.20.

Lexeo Therapeutics Trading Down 23.5 %

NASDAQ LXEO opened at $1.79 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. Lexeo Therapeutics has a 12 month low of $1.45 and a 12 month high of $19.50. The firm’s fifty day moving average price is $3.74 and its 200 day moving average price is $6.23. The company has a market capitalization of $59.42 million, a price-to-earnings ratio of -0.57 and a beta of 1.52.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. On average, sell-side analysts expect that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Trading of Lexeo Therapeutics

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of Lexeo Therapeutics by 107.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock valued at $577,000 after acquiring an additional 33,013 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Lexeo Therapeutics by 184.2% during the third 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. MetLife Investment Management LLC raised its holdings in shares of Lexeo Therapeutics by 121.5% in the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after purchasing an additional 7,803 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Lexeo Therapeutics during the 3rd quarter worth approximately $274,000. Finally, Point72 Asset Management L.P. acquired a new stake in Lexeo Therapeutics in the 3rd quarter valued at about $3,348,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.