Lexeo Therapeutics (NASDAQ:LXEO) Price Target Raised to $23.00 at HC Wainwright

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective lifted by HC Wainwright from $21.00 to $23.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently weighed in on LXEO. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Leerink Partners dropped their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Chardan Capital upped their price target on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $22.71.

Lexeo Therapeutics Stock Down 14.5 %

Shares of NASDAQ:LXEO opened at $6.65 on Thursday. The company has a quick ratio of 9.38, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52-week low of $6.65 and a 52-week high of $22.33. The stock’s fifty day simple moving average is $9.01 and its 200-day simple moving average is $12.23. The company has a market capitalization of $219.92 million and a P/E ratio of -2.10.

Insider Buying and Selling

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 directly owns 120,695 shares in the company, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 12,500 shares of company stock valued at $113,300. Insiders own 4.50% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in shares of Lexeo Therapeutics by 9.0% in the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock worth $39,802,000 after purchasing an additional 210,047 shares during the period. BNP Paribas Financial Markets acquired a new stake in Lexeo Therapeutics during the first quarter valued at approximately $75,000. American International Group Inc. acquired a new stake in Lexeo Therapeutics during the first quarter valued at approximately $79,000. Vanguard Group Inc. boosted its holdings in shares of Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after acquiring an additional 65,573 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Lexeo Therapeutics by 12.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after acquiring an additional 3,483 shares in the last quarter. Institutional investors and hedge funds 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.