Wall Street Zen Upgrades Lexeo Therapeutics (NASDAQ:LXEO) to Hold

Lexeo Therapeutics (NASDAQ:LXEO) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer initiated coverage on shares of Lexeo Therapeutics in a research note on Thursday, July 31st. They set an “outperform” rating and a $20.00 price target on the stock. HC Wainwright reissued a “buy” rating on shares of Lexeo Therapeutics in a research note on Monday, November 3rd. Leerink Partners lifted their target price 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. Chardan Capital reiterated a “buy” rating and issued a $17.00 price target on shares of Lexeo Therapeutics in a report on Wednesday, November 5th. Finally, Guggenheim began coverage on Lexeo Therapeutics in a research note on Wednesday, October 15th. They set a “buy” rating and a $30.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Lexeo Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $18.57.

Lexeo Therapeutics Stock Performance

Lexeo Therapeutics stock opened at $8.19 on Friday. Lexeo Therapeutics has a fifty-two week low of $1.45 and a fifty-two week high of $11.72. The company has a market capitalization of $442.26 million, a price-to-earnings ratio of -3.03 and a beta of 1.74. The stock has a fifty day moving average of $7.23 and a two-hundred day moving average of $5.14.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.15. On average, analysts forecast that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 13,133 shares of the company’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $117,409.02. Following the completion of the sale, the chief executive officer directly owned 242,118 shares in the company, valued at $2,164,534.92. This represents a 5.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $34,758.72. Following the completion of the transaction, the insider directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 29,091 shares of company stock valued at $232,007 over the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Large investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in Lexeo Therapeutics by 150.3% in the second quarter. CWM LLC now owns 10,351 shares of the company’s stock valued at $42,000 after purchasing an additional 6,216 shares during the period. Ethic Inc. purchased a new stake in shares of Lexeo Therapeutics in the second quarter worth about $44,000. Cerity Partners LLC acquired a new stake in shares of Lexeo Therapeutics in the second quarter valued at about $50,000. Intech Investment Management LLC raised its holdings 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 buying an additional 2,342 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lexeo Therapeutics during the 2nd quarter valued at about $60,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.