Chardan Capital Has Lowered Expectations for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its price objective cut by equities researchers at Chardan Capital from $22.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock.

A number of other brokerages also recently commented on LXEO. Leerink Partners reduced their price objective on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. HC Wainwright reiterated a "buy" rating and issued a $23.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, April 8th. Finally, Royal Bank of Canada decreased their price objective on Lexeo Therapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lexeo Therapeutics presently has an average rating of "Buy" and a consensus target price of $21.80.

Lexeo Therapeutics Trading Down 2.2%

NASDAQ LXEO opened at $2.63 on Tuesday. The stock has a market cap of $87.31 million, a PE ratio of -0.83 and a beta of 1.27. Lexeo Therapeutics has a 12 month low of $1.45 and a 12 month high of $19.50. The company's 50-day moving average price is $3.06 and its 200-day moving average price is $5.09. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.19). Equities research analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Lexeo Therapeutics by 15.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company's stock valued at $28,508,000 after buying an additional 576,059 shares during the last quarter. Altium Capital Management LLC purchased a new stake in shares of Lexeo Therapeutics during the fourth quarter worth about $2,665,000. Point72 Asset Management L.P. increased its holdings in shares of Lexeo Therapeutics by 102.5% during the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company's stock valued at $4,937,000 after acquiring an additional 379,828 shares in the last quarter. Vestal Point Capital LP raised its position in shares of Lexeo Therapeutics by 41.2% in the 4th quarter. Vestal Point Capital LP now owns 1,200,000 shares of the company's stock valued at $7,896,000 after purchasing an additional 350,000 shares during the last quarter. Finally, DAFNA Capital Management LLC raised its position in shares of Lexeo Therapeutics by 56.9% in the 4th quarter. DAFNA Capital Management LLC now owns 393,083 shares of the company's stock valued at $2,586,000 after purchasing an additional 142,500 shares during the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.

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