Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives $23.80 Consensus Target Price from Brokerages

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.80.

Several research analysts have recently weighed in on LXEO shares. Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday. Chardan Capital upped their target price 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 reduced their price target 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. Finally, HC Wainwright increased their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 14th.

Lexeo Therapeutics Price Performance

Shares of NASDAQ LXEO opened at $4.88 on Friday. The firm has a market cap of $161.36 million, a P/E ratio of -1.54 and a beta of 3.08. Lexeo Therapeutics has a twelve month low of $4.78 and a twelve month high of $19.50. 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 company has a 50 day moving average of $6.82 and a 200 day moving average of $9.41.

Institutional Trading of Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in shares of Lexeo Therapeutics by 18.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock valued at $33,997,000 after acquiring an additional 599,203 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in Lexeo Therapeutics during the third quarter valued at about $11,307,000. Vestal Point Capital LP grew its holdings in Lexeo Therapeutics by 1.2% during the third quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock valued at $7,684,000 after purchasing an additional 10,000 shares during the period. Verition Fund Management LLC increased its position in Lexeo Therapeutics by 84.5% in the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after buying an additional 355,928 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Lexeo Therapeutics by 86.5% in the third quarter. Geode Capital Management LLC now owns 553,247 shares of the company’s stock worth $5,003,000 after buying an additional 256,635 shares during the period. 60.67% of the stock is owned by hedge funds and other 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.