Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Stock Rated “Buy” by Sell-Side Brokerages

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.43.

A number of analysts recently commented on LXEO shares. Weiss Ratings upgraded shares of Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Leerink Partners restated an “outperform” rating and set a $15.00 price target on shares of Lexeo Therapeutics in a research note on Wednesday, September 23rd. Chardan Capital raised shares of Lexeo Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Lexeo Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, September 19th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Lexeo Therapeutics in a research note on Tuesday, September 22nd.

Lexeo Therapeutics Stock Up 2.6%

Shares of NASDAQ:LXEO opened at $3.14 on Friday. The business’s 50-day moving average is $3.75 and its 200 day moving average is $5.23. Lexeo Therapeutics has a 1 year low of $2.55 and a 1 year high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.01). On average, equities research analysts predict that Lexeo Therapeutics will post -1.18 EPS for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Lexeo Therapeutics by 5,159.1% during the third quarter. Signaturefd LLC now owns 8,362 shares of the company’s stock valued at $28,000 after purchasing an additional 8,203 shares during the period. Legal & General Group Plc purchased a new stake in Lexeo Therapeutics in the second quarter valued at $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in Lexeo Therapeutics in the fourth quarter valued at $37,000. Abel Hall LLC acquired a new stake in Lexeo Therapeutics during the 3rd quarter worth about $43,000. Finally, Spark Investment Management LLC acquired a new stake in Lexeo Therapeutics during the 2nd quarter worth about $70,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for genetically defined cardiovascular and central nervous system diseases. The company uses adeno-associated virus (AAV) gene-delivery technologies to develop treatments intended to address the underlying causes of disease rather than only manage symptoms.

Lexeo’s pipeline includes investigational programs for conditions such as Friedreich ataxia-associated cardiomyopathy, a serious heart complication of Friedreich ataxia, and genetic forms of neurodegenerative disease.