Lexeo Therapeutics (NASDAQ:LXEO) Given “Outperform” Rating at Royal Bank of Canada

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $24.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 387.31% from the company’s previous close.

LXEO has been the topic of several other research reports. Chardan Capital raised their price target on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Leerink Partners dropped their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, HC Wainwright raised their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lexeo Therapeutics currently has an average rating of “Buy” and an average price target of $23.80.

Lexeo Therapeutics Stock Performance

Shares of NASDAQ:LXEO traded down $0.15 during trading hours on Tuesday, hitting $4.93. The stock had a trading volume of 144,859 shares, compared to its average volume of 224,283. The stock’s fifty day simple moving average is $6.82 and its 200 day simple moving average is $9.41. Lexeo Therapeutics has a 1-year low of $4.78 and a 1-year high of $19.50. The firm has a market capitalization of $162.87 million, a price-to-earnings ratio of -1.56 and a beta of 3.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95.

Institutional Trading of Lexeo Therapeutics

A number of large investors have recently added to or reduced their stakes in LXEO. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 3,483 shares in the last quarter. Rhumbline Advisers boosted its holdings in 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 buying an additional 3,627 shares in the last quarter. Values First Advisors Inc. bought a new stake in Lexeo Therapeutics during the third quarter worth approximately $67,000. Charles Schwab Investment Management Inc. boosted its holdings in Lexeo Therapeutics by 107.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock worth $577,000 after buying an additional 33,013 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after buying an additional 3,591 shares in the last quarter. 60.67% of the stock is currently owned by 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.