Lexeo Therapeutics (NASDAQ:LXEO) Given Outperform Rating at Leerink Partners

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Leerink Partners in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $15.00 target price on the stock. Leerink Partners’ price target indicates a potential upside of 275.00% from the stock’s previous close.

LXEO has been the topic of a number of other reports. Wall Street Zen raised shares of Lexeo Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings raised Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Chardan Capital upgraded Lexeo Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price objective on Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, June 25th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Lexeo Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $18.12.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO opened at $4.00 on Wednesday. The business’s 50 day moving average price is $4.63 and its 200-day moving average price is $5.18. Lexeo Therapeutics has a 1 year low of $3.99 and a 1 year high of $10.99. The firm has a market capitalization of $328.20 million, a PE ratio of -3.48 and a beta of 1.50.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.01). As a group, analysts expect that Lexeo Therapeutics will post -1.18 earnings per share for the current year.

Insider Activity at Lexeo Therapeutics

In other news, insider Narinder Pal Bhalla sold 22,306 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the completion of the sale, the insider owned 82,194 shares in the company, valued at approximately $363,297.48. This represents a 21.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Townsend sold 25,947 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total value of $116,242.56. Following the completion of the sale, the chief executive officer directly owned 377,817 shares of the company’s stock, valued at $1,692,620.16. This represents a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 66,326 shares of company stock worth $299,817 over the last quarter. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Spark Investment Management LLC purchased a new position in Lexeo Therapeutics during the 2nd quarter valued at about $70,000. Frazier Life Sciences Management L.P. raised its position in shares of Lexeo Therapeutics by 9.0% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,824,725 shares of the company’s stock worth $22,459,000 after purchasing an additional 400,000 shares during the last quarter. Montanova Capital LLC grew its holdings in Lexeo Therapeutics by 410.7% during the 2nd quarter. Montanova Capital LLC now owns 6,384,200 shares of the company’s stock valued at $29,718,000 after buying an additional 5,134,200 shares during the last quarter. Wellington Management Group LLP increased its position in Lexeo Therapeutics by 17.2% during the second quarter. Wellington Management Group LLP now owns 202,383 shares of the company’s stock worth $942,000 after buying an additional 29,680 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in shares of Lexeo Therapeutics in the second quarter worth $6,051,500. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for genetic and acquired diseases. The company uses adeno-associated virus (AAV) delivery technology to introduce genetic material intended to address underlying disease mechanisms, with programs spanning central nervous system and cardiovascular conditions.

Lexeo’s development portfolio includes investigational therapies for APOE4-associated Alzheimer’s disease, Friedreich’s ataxia, and inherited cardiac disorders such as LMNA-related dilated cardiomyopathy and arrhythmogenic right ventricular cardiomyopathy.