Raymond James Financial Upgrades Lexeo Therapeutics (NASDAQ:LXEO) to Strong-Buy

Lexeo Therapeutics (NASDAQ:LXEO) was upgraded by research analysts at Raymond James Financial to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on LXEO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexeo Therapeutics in a research report on Wednesday, October 8th. Guggenheim started coverage on shares of Lexeo Therapeutics in a report on Wednesday, October 15th. They set a “buy” rating and a $30.00 price target for the company. Wall Street Zen upgraded Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Chardan Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Lexeo Therapeutics in a report on Thursday, December 11th. Finally, Oppenheimer reissued an “outperform” rating and set a $20.00 price target on shares of Lexeo Therapeutics in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lexeo Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Lexeo Therapeutics Stock Up 3.9%

NASDAQ:LXEO opened at $10.35 on Wednesday. Lexeo Therapeutics has a twelve month low of $1.45 and a twelve month high of $10.79. The stock’s 50-day simple moving average is $9.25 and its 200 day simple moving average is $6.39. The firm has a market capitalization of $755.45 million, a PE ratio of -3.83 and a beta of 1.76.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Wednesday, November 5th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.15. On average, analysts anticipate that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Tai Sandi See sold 3,888 shares of the firm’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $34,758.72. Following the completion of the transaction, the insider directly owned 65,862 shares of the company’s stock, valued at $588,806.28. This trade represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Nolan Townsend sold 13,133 shares of Lexeo Therapeutics stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $117,409.02. Following the transaction, the chief executive officer directly owned 242,118 shares in the company, valued at $2,164,534.92. The trade was a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,646 shares of company stock valued at $221,037 in the last three months. Insiders own 5.30% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Lexeo Therapeutics during the 2nd quarter worth approximately $60,000. Savant Capital LLC bought a new stake in shares of Lexeo Therapeutics in the 2nd quarter valued at $119,000. Ethic Inc. acquired a new stake in shares of Lexeo Therapeutics during the second quarter worth $44,000. Affinity Asset Advisors LLC bought a new position in Lexeo Therapeutics during the first quarter worth $5,139,000. Finally, Palumbo Wealth Management LLC bought a new position in Lexeo Therapeutics during the second quarter worth $226,000. 60.67% of the stock is currently owned by institutional investors.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.