Leerink Partners Has Lowered Expectations for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price target dropped by equities researchers at Leerink Partners from $20.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price target points to a potential upside of 144.22% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of Lexeo Therapeutics in a research report on Thursday, October 31st. Finally, Chardan Capital restated a “buy” rating and set a $23.00 target price on shares of Lexeo Therapeutics in a research report on Friday, October 25th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $22.71.

Lexeo Therapeutics Stock Up 1.8 %

LXEO opened at $7.78 on Wednesday. The business has a 50 day moving average price of $9.16 and a 200 day moving average price of $12.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 9.38. Lexeo Therapeutics has a twelve month low of $7.47 and a twelve month high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, meeting the consensus estimate of ($0.64). Research analysts forecast 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 the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the sale, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 12,500 shares of company stock valued at $113,300. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of institutional investors have recently bought and sold shares of LXEO. BNP Paribas Financial Markets acquired a new position in Lexeo Therapeutics in the 1st quarter valued at about $75,000. American International Group Inc. acquired a new position in shares of Lexeo Therapeutics in the first quarter valued at approximately $79,000. Values First Advisors Inc. bought a new position in shares of Lexeo Therapeutics during the third quarter worth approximately $67,000. Rhumbline Advisers increased its stake in shares of Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after purchasing an additional 3,627 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after purchasing an additional 7,803 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.