Lexeo Therapeutics (NASDAQ:LXEO) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a research note issued to investors on Friday, Benzinga reports. They currently have a $23.00 price target on the stock.

Several other equities analysts also recently issued reports on LXEO. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. HC Wainwright reduced their price objective on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $22.14.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock opened at $9.50 on Friday. The company has a quick ratio of 9.38, a current ratio of 9.38 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $10.05 and a two-hundred day moving average of $12.67. Lexeo Therapeutics has a 52 week low of $7.86 and a 52 week high of $22.33. The company has a market cap of $314.07 million and a P/E ratio of -0.65.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its earnings results on Monday, August 12th. The company reported ($0.64) EPS for the quarter, meeting analysts’ consensus estimates of ($0.64). As a group, analysts anticipate that Lexeo Therapeutics will post -2.74 EPS for the current year.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.53, for a total transaction of $57,650.00. Following the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $1,391,613.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 15,000 shares of company stock valued at $151,400 over the last quarter. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings 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 valued at $39,802,000 after buying an additional 210,047 shares in the last quarter. Artal Group S.A. increased its holdings in shares of Lexeo Therapeutics by 32.9% in the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock valued at $12,571,000 after buying an additional 198,281 shares in the last quarter. RA Capital Management L.P. bought a new position in shares of Lexeo Therapeutics in the first quarter valued at $10,364,000. Vanguard Group Inc. increased its holdings in shares of Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after buying an additional 65,573 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after buying an additional 3,483 shares in the last quarter. 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.