Lexeo Therapeutics (NASDAQ:LXEO) Coverage Initiated at Cantor Fitzgerald

Analysts at Cantor Fitzgerald started coverage on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a note issued to investors on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $19.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 109.02% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Oppenheimer began coverage on Lexeo Therapeutics in a research report on Thursday, July 31st. They set an “outperform” rating and a $20.00 target price for the company. Guggenheim initiated coverage on shares of Lexeo Therapeutics in a research report on Wednesday, October 15th. They issued a “buy” rating and a $30.00 price objective on the stock. Leerink Partners raised their price target on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexeo Therapeutics in a research report on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Lexeo Therapeutics in a report on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.63.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO opened at $9.09 on Thursday. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $10.38. The firm has a 50-day moving average price of $7.88 and a two-hundred day moving average price of $5.42. The firm has a market cap of $663.48 million, a price-to-earnings ratio of -3.37 and a beta of 1.75.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Wednesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.15. As a group, sell-side analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Insider Activity at Lexeo Therapeutics

In related news, insider Eric Adler sold 3,382 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $8.94, for a total transaction of $30,235.08. Following the sale, the insider owned 73,261 shares of the company’s stock, valued at approximately $654,953.34. This represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Nolan Townsend sold 13,133 shares of the firm’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $8.94, for a total transaction of $117,409.02. Following the completion of the transaction, the chief executive officer directly owned 242,118 shares of the company’s stock, valued at approximately $2,164,534.92. The trade was a 5.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,518 shares of company stock valued at $201,311. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. raised its holdings in shares of Lexeo Therapeutics by 363.1% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock valued at $17,787,000 after acquiring an additional 3,469,210 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Lexeo Therapeutics in the second quarter worth approximately $16,117,000. Citadel Advisors LLC raised its stake in Lexeo Therapeutics by 3.1% in the third quarter. Citadel Advisors LLC now owns 3,719,043 shares of the company’s stock valued at $24,694,000 after purchasing an additional 111,076 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in Lexeo Therapeutics by 142.4% during the second quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company’s stock valued at $14,429,000 after purchasing an additional 2,108,474 shares during the last quarter. Finally, Vestal Point Capital LP grew its stake in Lexeo Therapeutics by 0.7% in the 3rd quarter. Vestal Point Capital LP now owns 3,250,000 shares of the company’s stock worth $21,580,000 after buying an additional 21,839 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

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.