Brokerages Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Target Price at $23.80

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $23.80.

Several analysts recently commented on the stock. Leerink Partners cut their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Chardan Capital increased their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright lifted their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Insider Activity at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the transaction, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 10,000 shares of company stock worth $80,550. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. acquired a new stake in shares of Lexeo Therapeutics during the third quarter worth approximately $11,307,000. Janus Henderson Group PLC lifted its position in Lexeo Therapeutics by 18.9% in the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after buying an additional 599,203 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Lexeo Therapeutics during the 3rd quarter valued at $3,348,000. Verition Fund Management LLC grew its holdings in shares of Lexeo Therapeutics by 84.5% during the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after acquiring an additional 355,928 shares in the last quarter. Finally, Ikarian Capital LLC acquired a new position in shares of Lexeo Therapeutics in the third quarter worth $2,325,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Price Performance

Shares of NASDAQ LXEO opened at $6.78 on Monday. Lexeo Therapeutics has a twelve month low of $5.77 and a twelve month high of $22.33. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $7.63 and a two-hundred day moving average of $10.49. The company has a market capitalization of $224.19 million and a price-to-earnings ratio of -2.15.

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.