Chardan Capital Issues Positive Forecast for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective raised by equities research analysts at Chardan Capital from $23.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price suggests a potential upside of 227.23% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Leerink Partners decreased their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Lexeo Therapeutics in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $22.43.

Lexeo Therapeutics Stock Down 0.7 %

LXEO stock traded down $0.05 during trading on Wednesday, hitting $7.64. 5,958,854 shares of the company’s stock traded hands, compared to its average volume of 244,346. The firm has a market capitalization of $252.58 million and a P/E ratio of -0.52. Lexeo Therapeutics has a 1 year low of $7.47 and a 1 year high of $22.33. The company has a quick ratio of 9.38, a current ratio of 9.38 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $9.24 and a two-hundred day simple moving average of $12.33.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, hitting the consensus estimate of ($0.64). Sell-side analysts anticipate that Lexeo Therapeutics will post -2.76 EPS for the current year.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $10.65, for a total transaction of $53,250.00. Following the completion of the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $1,285,401.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.50% of the stock is owned by insiders.

Institutional Trading of Lexeo Therapeutics

Several large investors have recently made changes to their positions in LXEO. BNP Paribas Financial Markets acquired a new position in Lexeo Therapeutics during the first quarter valued at $75,000. Vanguard Group Inc. lifted its holdings in shares of Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after buying an additional 65,573 shares during the period. American International Group Inc. purchased a new stake in shares of Lexeo Therapeutics in the first quarter worth about $79,000. Janus Henderson Group PLC grew its holdings in Lexeo Therapeutics by 9.0% during the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after acquiring an additional 210,047 shares during the period. Finally, Artal Group S.A. raised its position in Lexeo Therapeutics by 32.9% during the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock valued at $12,571,000 after acquiring an additional 198,281 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other 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.