Lexeo Therapeutics’ (LXEO) Buy Rating Reaffirmed at Chardan Capital

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating restated by analysts at Chardan Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $17.00 target price on the stock. Chardan Capital’s target price would indicate a potential upside of 74.72% from the stock’s current price.

A number of other analysts have also commented on the company. Leerink Partners boosted their price objective on Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Guggenheim began coverage on Lexeo Therapeutics in a research report on Wednesday, October 15th. They set a “buy” rating and a $30.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Lexeo Therapeutics in a report on Wednesday. Wall Street Zen upgraded Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald initiated coverage on Lexeo Therapeutics in a research note on Monday, December 1st. They set an “overweight” rating and a $19.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lexeo Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.63.

Lexeo Therapeutics Stock Performance

Shares of Lexeo Therapeutics stock opened at $9.73 on Thursday. The stock has a market capitalization of $710.19 million, a PE ratio of -3.60 and a beta of 1.76. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $10.38. The stock has a 50 day moving average price of $8.93 and a two-hundred day moving average price of $6.07.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its earnings results on Wednesday, November 5th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.15. Research analysts forecast that Lexeo Therapeutics will post -3.14 EPS for the current year.

Insider Buying and Selling at Lexeo Therapeutics

In other Lexeo Therapeutics news, insider Tai Sandi See sold 3,888 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $34,758.72. Following the sale, the insider owned 65,862 shares in the company, valued at $588,806.28. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard Nolan Townsend sold 13,133 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $8.94, for a total value of $117,409.02. Following the sale, the chief executive officer owned 242,118 shares in the company, valued at approximately $2,164,534.92. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,646 shares of company stock valued at $221,037 over the last three months. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC grew its stake in Lexeo Therapeutics by 150.3% in the 2nd quarter. CWM LLC now owns 10,351 shares of the company’s stock worth $42,000 after buying an additional 6,216 shares in the last quarter. Ethic Inc. bought a new stake in Lexeo Therapeutics during the second quarter worth about $44,000. Cerity Partners LLC bought a new stake in Lexeo Therapeutics during the second quarter worth about $50,000. Intech Investment Management LLC increased its position in shares of Lexeo Therapeutics by 20.7% during the 2nd quarter. Intech Investment Management LLC now owns 13,682 shares of the company’s stock valued at $55,000 after purchasing an additional 2,342 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Lexeo Therapeutics during the 2nd quarter valued at about $60,000. Hedge funds and other 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.