Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.6250.

LXEO has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on Lexeo Therapeutics in a research report on Monday. They issued an “overweight” rating and a $19.00 price target on the stock. Guggenheim started coverage on Lexeo Therapeutics in a research note on Wednesday, October 15th. They issued a “buy” rating and a $30.00 price objective on the stock. Wall Street Zen upgraded Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Lexeo Therapeutics in a report on Wednesday, November 5th.

Lexeo Therapeutics Stock Down 6.7%

Shares of NASDAQ:LXEO opened at $8.32 on Wednesday. The company’s fifty day moving average is $8.61 and its two-hundred day moving average is $5.83. The company has a market cap of $607.28 million, a P/E ratio of -3.08 and a beta of 1.76. Lexeo Therapeutics has a 12-month low of $1.45 and a 12-month high of $10.38.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its earnings results on Wednesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.15. Equities research analysts anticipate that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Insider Activity

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 13,133 shares of Lexeo Therapeutics stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $117,409.02. Following the sale, the chief executive officer directly owned 242,118 shares of the company’s stock, valued at approximately $2,164,534.92. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tai Sandi See sold 3,888 shares of Lexeo Therapeutics stock in a transaction on Friday, October 17th. The shares were sold at an average price of $8.94, for a total value of $34,758.72. Following the transaction, the insider directly owned 65,862 shares of the company’s stock, valued at approximately $588,806.28. The trade was a 5.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 24,646 shares of company stock worth $221,037. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LXEO. Vestal Point Capital LP increased its stake in shares of Lexeo Therapeutics by 0.7% in the 3rd quarter. Vestal Point Capital LP now owns 3,250,000 shares of the company’s stock valued at $21,580,000 after acquiring an additional 21,839 shares during the last quarter. Scientech Research LLC acquired a new position in Lexeo Therapeutics during the third quarter valued at approximately $90,000. Brevan Howard Capital Management LP acquired a new position in Lexeo Therapeutics during the third quarter valued at approximately $122,000. Citadel Advisors LLC increased its stake in Lexeo Therapeutics by 3.1% in the third quarter. Citadel Advisors LLC now owns 3,719,043 shares of the company’s stock valued at $24,694,000 after purchasing an additional 111,076 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Lexeo Therapeutics by 6.1% in the third quarter. Bank of America Corp DE now owns 28,279 shares of the company’s stock worth $188,000 after purchasing an additional 1,626 shares during the period. Institutional investors 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.