Guggenheim Initiates Coverage on Lexeo Therapeutics (NASDAQ:LXEO)

Stock analysts at Guggenheim started coverage on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating on the stock.

LXEO has been the topic of several other reports. Chardan Capital increased their target price on shares of Lexeo Therapeutics from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Leerink Partners upped their price objective on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. Oppenheimer began coverage on Lexeo Therapeutics in a report on Thursday, July 31st. They set an “outperform” rating and a $20.00 target price on the stock. Finally, HC Wainwright increased their price target on Lexeo Therapeutics from $9.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.86.

Lexeo Therapeutics Trading Down 0.7%

Shares of LXEO opened at $8.77 on Wednesday. The stock has a market cap of $473.58 million, a P/E ratio of -2.69 and a beta of 1.66. Lexeo Therapeutics has a 1 year low of $1.45 and a 1 year high of $11.72. The stock’s 50-day moving average price is $5.81 and its two-hundred day moving average price is $4.35.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.04. As a group, equities analysts forecast that Lexeo Therapeutics will post -3.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LXEO. CWM LLC grew its holdings in shares of Lexeo Therapeutics by 82.2% during the third quarter. CWM LLC now owns 18,864 shares of the company’s stock worth $125,000 after buying an additional 8,513 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Lexeo Therapeutics by 184.1% during the 2nd quarter. Vestal Point Capital LP now owns 3,228,161 shares of the company’s stock worth $12,977,000 after acquiring an additional 2,091,912 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Lexeo Therapeutics by 363.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock worth $17,787,000 after acquiring an additional 3,469,210 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Lexeo Therapeutics by 20.4% in the second quarter. BNP Paribas Financial Markets now owns 48,434 shares of the company’s stock valued at $195,000 after purchasing an additional 8,223 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Lexeo Therapeutics by 39.1% in the second quarter. Bridgeway Capital Management LLC now owns 53,400 shares of the company’s stock worth $215,000 after purchasing an additional 15,000 shares in the last quarter. 60.67% of the stock is 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.