Leerink Partners Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $18.00

Lexeo Therapeutics (NASDAQ:LXEO) had its price target cut by Leerink Partners from $19.00 to $18.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, January 21st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $22.80.

Lexeo Therapeutics Trading Down 10.1 %

Shares of LXEO stock opened at $3.99 on Monday. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $6.65. Lexeo Therapeutics has a fifty-two week low of $2.32 and a fifty-two week high of $19.50. The stock has a market capitalization of $131.93 million, a P/E ratio of -1.26 and a beta of 3.85.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.09. On average, sell-side analysts expect that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of large investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. acquired a new position in Lexeo Therapeutics in the 3rd quarter worth approximately $11,307,000. Janus Henderson Group PLC lifted its holdings in shares of Lexeo Therapeutics by 18.9% in the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after purchasing an additional 599,203 shares in the last quarter. Altium Capital Management LLC acquired a new stake in shares of Lexeo Therapeutics in the fourth quarter worth $2,665,000. Point72 Asset Management L.P. grew its holdings in shares of Lexeo Therapeutics by 102.5% during the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock valued at $4,937,000 after buying an additional 379,828 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after buying an additional 355,928 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.