Leerink Partners Reaffirms "Outperform" Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Key Points

• Leerink Partners reaffirmed an “Outperform” rating on Lexeo Therapeutics and set a $15 price target, implying roughly 275% upside from the stock’s $4.00 price. Analysts overall give the company an average “Buy” rating with an $18.12 target.
• Lexeo shares were down 1.7% and remain near their 12-month low, while the company reported a quarterly loss of $0.30 per share—slightly worse than the $0.29 consensus estimate.
• Institutional ownership stands at 60.67%, with BlackRock and other funds initiating or expanding positions. Company insiders sold shares during the quarter to cover tax obligations related to vested equity awards.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Leerink Partners in a research report issued on Wednesday, Benzinga reports. They currently have a $15.00 price target on the stock. Leerink Partners' target price points to a potential upside of 275.00% from the stock's current price.

A number of other equities analysts have also recently commented on the company. Chardan Capital raised Lexeo Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Raymond James Financial restated a "strong-buy" rating on shares of Lexeo Therapeutics in a research report on Tuesday. 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 report on Thursday, June 25th. Wall Street Zen upgraded Lexeo Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday. Finally, Weiss Ratings upgraded Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lexeo Therapeutics currently has an average rating of "Buy" and an average target price of $18.12.

Lexeo Therapeutics Trading Down 1.7%

LXEO opened at $4.00 on Wednesday. The company has a market cap of $328.20 million, a price-to-earnings ratio of -3.48 and a beta of 1.50. The company's 50 day moving average is $4.63 and its 200 day moving average is $5.18. Lexeo Therapeutics has a 12-month low of $3.99 and a 12-month high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released 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). As a group, analysts predict that Lexeo Therapeutics will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling at Lexeo Therapeutics

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

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Lexeo Therapeutics during the second quarter valued at about $26,717,000. Montanova Capital LLC raised its stake in Lexeo Therapeutics by 410.7% in the second 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. Jupiter Topco LLC acquired a new stake in Lexeo Therapeutics in the second quarter worth about $18,409,000. Avoro Capital Advisors LLC purchased a new stake in Lexeo Therapeutics during the 4th quarter worth approximately $32,769,000. Finally, Affinity Asset Advisors LLC lifted its stake in shares of Lexeo Therapeutics by 57.8% during the first quarter. Affinity Asset Advisors LLC now owns 5,050,211 shares of the company's stock worth $28,988,000 after buying an additional 1,850,211 shares during the period. 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 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.

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