Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.8571.

Several research firms have commented on LXEO. HC Wainwright upped their price target on shares of Lexeo Therapeutics from $9.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. Oppenheimer assumed coverage on Lexeo Therapeutics in a research report on Thursday, July 31st. They set an “outperform” rating and a $20.00 price target for the company. Chardan Capital upped their price objective on Lexeo Therapeutics from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Leerink Partners raised their price objective on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th.

Insider Buying and Selling at Lexeo Therapeutics

In other Lexeo Therapeutics news, 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tai Sandi See sold 3,888 shares of the firm’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 $34,758.72. Following the sale, the insider owned 65,862 shares in the company, valued at $588,806.28. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,091 shares of company stock valued at $232,007. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in 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 valued at $42,000 after acquiring an additional 6,216 shares during the period. Ethic Inc. purchased a new position in Lexeo Therapeutics during the second quarter valued at $44,000. Cerity Partners LLC purchased a new position in Lexeo Therapeutics during the second quarter valued at $50,000. Intech Investment Management LLC increased its stake in shares of Lexeo Therapeutics by 20.7% during the second quarter. Intech Investment Management LLC now owns 13,682 shares of the company’s stock worth $55,000 after purchasing an additional 2,342 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lexeo Therapeutics during the second quarter worth about $60,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Stock Down 3.8%

Shares of NASDAQ LXEO opened at $9.22 on Tuesday. The business’s 50 day moving average price is $6.00 and its 200 day moving average price is $4.46. The firm has a market cap of $497.88 million, a P/E ratio of -2.83 and a beta of 1.66. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $11.72.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.04. As a group, research analysts expect that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Lexeo Therapeutics Company Profile

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.