Chardan Capital Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $20.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective trimmed by Chardan Capital from $22.00 to $20.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on LXEO. Royal Bank of Canada cut their target price on Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, April 8th. Finally, Leerink Partners reduced their price target on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $21.80.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO opened at $2.70 on Tuesday. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. The company has a market cap of $89.63 million, a P/E ratio of -0.85 and a beta of 1.27. Lexeo Therapeutics has a fifty-two week low of $1.45 and a fifty-two week high of $19.50. The firm’s 50 day moving average is $3.06 and its two-hundred day moving average is $5.01.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its earnings results on Monday, May 12th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.19). Analysts expect that Lexeo Therapeutics will post -3.14 EPS for the current year.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Affinity Asset Advisors LLC acquired a new stake in Lexeo Therapeutics during the 1st quarter worth about $5,139,000. Janus Henderson Group PLC boosted its position in Lexeo Therapeutics by 15.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company’s stock worth $28,508,000 after purchasing an additional 576,059 shares during the period. Altium Capital Management LLC bought a new stake in shares of Lexeo Therapeutics in the fourth quarter valued at approximately $2,665,000. Point72 Asset Management L.P. boosted its position in shares of Lexeo Therapeutics by 102.5% in the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock valued at $4,937,000 after acquiring an additional 379,828 shares during the period. Finally, Vestal Point Capital LP raised its stake in shares of Lexeo Therapeutics by 41.2% in the fourth quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company’s stock valued at $7,896,000 after purchasing an additional 350,000 shares in the last quarter. 60.67% of the stock is currently owned by 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.