Lexeo Therapeutics (NASDAQ:LXEO) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Lexeo Therapeutics from “sell” to “strong sell.” Other analysts remain more positive, and MarketBeat reports an average “Buy” rating with a $16.43 consensus price target.
• Shares opened at $2.87, down 1.4%, near their 12-month low of $2.55 and below their 50-day and 200-day moving averages.
• Lexeo reported quarterly EPS of -$0.30, missing the consensus estimate of -$0.29; analysts expect full-year EPS of -$1.22.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on LXEO. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lexeo Therapeutics in a report on Wednesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Lexeo Therapeutics in a research report on Thursday. Chardan Capital upgraded Lexeo Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Leerink Partners reiterated an "outperform" rating and issued a $15.00 price objective on shares of Lexeo Therapeutics in a report on Wednesday, September 23rd. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Lexeo Therapeutics in a research report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Lexeo Therapeutics currently has an average rating of "Buy" and a consensus target price of $16.43.

Lexeo Therapeutics Stock Down 1.4%

LXEO stock opened at $2.87 on Friday. Lexeo Therapeutics has a 12-month low of $2.55 and a 12-month high of $10.99. The stock's 50 day simple moving average is $3.38 and its 200 day simple moving average is $5.01.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.01). As a group, equities research analysts anticipate that Lexeo Therapeutics will post -1.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LXEO. Montanova Capital LLC boosted its position in shares of Lexeo Therapeutics by 410.7% in the second quarter. Montanova Capital LLC now owns 6,384,200 shares of the company's stock worth $29,718,000 after purchasing an additional 5,134,200 shares during the period. Affinity Asset Advisors LLC raised its position 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 valued at $28,988,000 after buying an additional 1,850,211 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Lexeo Therapeutics during the second quarter valued at approximately $26,717,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of Lexeo Therapeutics by 9.0% in the second quarter. Frazier Life Sciences Management L.P. now owns 4,824,725 shares of the company's stock worth $22,459,000 after buying an additional 400,000 shares in the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in shares of Lexeo Therapeutics by 69.5% in the first quarter. Orbimed Advisors LLC now owns 3,602,450 shares of the company's stock worth $20,678,000 after buying an additional 1,477,450 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

About Lexeo Therapeutics

Lexeo Therapeutics, Inc. is a clinical-stage biotechnology company developing gene therapies for inherited cardiovascular and other serious diseases. Its research focuses on using genetic medicines to address conditions caused by specific gene mutations. The company's investigational programs include LX2006, a gene therapy being studied for Friedreich ataxia cardiomyopathy, and other candidates targeting genetically defined heart diseases. These therapies remain in development and are not established commercial products.

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