Royal Bank of Canada Lowers Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $20.00

Lexeo Therapeutics (NASDAQ:LXEO) had its target price decreased by analysts at Royal Bank of Canada from $24.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 428.40% from the stock’s previous close.

Several other analysts have also recently weighed in on LXEO. Leerink Partners cut their price target on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Monday. Chardan Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $22.80.

Lexeo Therapeutics Trading Down 7.5 %

NASDAQ LXEO traded down $0.31 on Tuesday, reaching $3.79. 891,112 shares of the company were exchanged, compared to its average volume of 328,687. 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 $125.15 million, a P/E ratio of -1.23 and a beta of 3.85. The business’s fifty day moving average price is $4.15 and its 200 day moving average price is $6.71. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01.

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, beating analysts’ consensus estimates of ($0.87) by $0.09. Analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Large investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. purchased a new stake in Lexeo Therapeutics in the third quarter valued at approximately $11,307,000. Janus Henderson Group PLC grew its stake 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 buying an additional 599,203 shares in the last quarter. Altium Capital Management LLC purchased a new stake in shares of Lexeo Therapeutics in the 4th quarter valued at $2,665,000. Point72 Asset Management L.P. lifted its stake in Lexeo Therapeutics by 102.5% during the 4th quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock worth $4,937,000 after acquiring an additional 379,828 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Lexeo Therapeutics by 84.5% during the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after acquiring an additional 355,928 shares during the period. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.