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

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective dropped by equities research analysts at Leerink Partners from $19.00 to $18.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price target would suggest a potential upside of 423.26% from the company’s previous close.

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a report on Tuesday, January 21st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lexeo Therapeutics currently has an average rating of “Buy” and a consensus target price of $23.60.

Lexeo Therapeutics Stock Performance

LXEO stock traded up $0.73 during trading on Monday, hitting $3.44. 4,160,192 shares of the company’s stock traded hands, compared to its average volume of 317,824. The stock has a fifty day moving average price of $4.19 and a two-hundred day moving average price of $6.76. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52 week low of $2.32 and a 52 week high of $19.50. The stock has a market capitalization of $113.75 million, a price-to-earnings ratio of -1.09 and a beta of 3.85.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC grew its holdings in Lexeo Therapeutics by 15.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company’s stock worth $28,508,000 after buying an additional 576,059 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Lexeo Therapeutics in the third quarter worth $11,307,000. Vestal Point Capital LP increased its holdings in shares of Lexeo Therapeutics by 41.2% during the fourth quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company’s stock valued at $7,896,000 after purchasing an additional 350,000 shares during the period. Woodline Partners LP raised its stake in shares of Lexeo Therapeutics by 0.8% during the fourth quarter. Woodline Partners LP now owns 858,691 shares of the company’s stock valued at $5,650,000 after purchasing an additional 6,730 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings 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 purchasing an additional 355,928 shares during the period. Institutional investors 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.