Chardan Capital Reaffirms “Buy” Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a report released on Monday,Benzinga reports. They presently have a $17.00 target price on the stock. Chardan Capital’s target price would indicate a potential upside of 183.38% from the stock’s current price.

A number of other brokerages have also recently weighed in on LXEO. Wall Street Zen cut shares of Lexeo Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. HC Wainwright cut their price objective on shares of Lexeo Therapeutics from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Weiss Ratings cut shares of Lexeo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.88.

Lexeo Therapeutics Stock Up 2.9%

LXEO stock traded up $0.17 during mid-day trading on Monday, reaching $6.00. The company had a trading volume of 591,660 shares, compared to its average volume of 960,914. The stock has a market capitalization of $471.05 million, a P/E ratio of -2.73 and a beta of 1.52. Lexeo Therapeutics has a one year low of $2.43 and a one year high of $10.99. The stock’s 50-day simple moving average is $6.26 and its two-hundred day simple moving average is $7.82.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Monday, May 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. On average, research analysts forecast that Lexeo Therapeutics will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 55,000 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $5.69, for a total value of $312,950.00. Following the sale, the chief executive officer directly owned 340,106 shares in the company, valued at approximately $1,935,203.14. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 68,189 shares of company stock valued at $397,156 in the last quarter. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of LXEO. AQR Capital Management LLC raised its position in Lexeo Therapeutics by 370.0% in the first quarter. AQR Capital Management LLC now owns 50,337 shares of the company’s stock worth $175,000 after acquiring an additional 39,627 shares in the last quarter. Millennium Management LLC raised its position in Lexeo Therapeutics by 654.8% in the first quarter. Millennium Management LLC now owns 1,071,489 shares of the company’s stock worth $3,718,000 after acquiring an additional 929,538 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Lexeo Therapeutics in the first quarter worth about $85,000. Rhumbline Advisers raised its position in Lexeo Therapeutics by 19.8% in the first quarter. Rhumbline Advisers now owns 30,192 shares of the company’s stock worth $105,000 after acquiring an additional 4,995 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in Lexeo Therapeutics in the second quarter worth about $50,000. 60.67% of the stock is currently owned by institutional investors.

About Lexeo Therapeutics

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.