What is Chardan Capital’s Estimate for LXEO FY2024 Earnings?

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) – Equities researchers at Chardan Capital reduced their FY2024 earnings estimates for Lexeo Therapeutics in a research report issued on Wednesday, November 13th. Chardan Capital analyst G. Livshits now expects that the company will post earnings of ($3.03) per share for the year, down from their prior estimate of ($2.93). Chardan Capital has a “Buy” rating and a $25.00 price objective on the stock. The consensus estimate for Lexeo Therapeutics’ current full-year earnings is ($3.05) per share. Chardan Capital also issued estimates for Lexeo Therapeutics’ FY2025 earnings at ($2.30) EPS.

Several other analysts have also issued reports on LXEO. HC Wainwright lifted their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Leerink Partners dropped their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.71.

Lexeo Therapeutics Stock Up 0.3 %

LXEO opened at $6.02 on Monday. The company has a fifty day moving average of $8.91 and a two-hundred day moving average of $12.18. Lexeo Therapeutics has a fifty-two week low of $5.80 and a fifty-two week high of $22.33. The stock has a market capitalization of $199.08 million and a price-to-earnings ratio of -1.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95.

Hedge Funds Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position 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 last quarter. BNP Paribas Financial Markets purchased a new position in Lexeo Therapeutics during the first quarter worth about $75,000. American International Group Inc. purchased a new position in Lexeo Therapeutics during the first quarter worth about $79,000. Vanguard Group Inc. raised its stake in Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after purchasing an additional 65,573 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Lexeo Therapeutics by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after purchasing an additional 3,483 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 12,500 shares of company stock worth $113,300. 4.50% of the stock is owned by insiders.

About Lexeo Therapeutics

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.