Chardan Capital Reaffirms "Buy" Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Key Points

• Chardan Capital reaffirmed its Buy rating on Lexeo Therapeutics and kept a $17 price target, implying significant upside from the previous close.
• Lexeo’s latest earnings beat expectations, with Q1 EPS of -$0.25 versus analyst estimates of -$0.29. Despite the beat, analysts still expect the company to post a full-year loss.
• Sentiment around the stock remains mixed: other firms have recently downgraded the name, while institutional investors continue to hold a large stake, with hedge funds and institutions owning over 60% of shares.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report)'s stock had its "buy" rating restated by analysts at Chardan Capital in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $17.00 price target on the stock. Chardan Capital's price objective suggests a potential upside of 183.38% from the company's previous close.

A number of other research firms also recently commented on LXEO. Wall Street Zen downgraded Lexeo Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Weiss Ratings cut Lexeo Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, May 1st. Finally, HC Wainwright decreased their price objective on shares of Lexeo Therapeutics from $13.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lexeo Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $18.88.

Lexeo Therapeutics Stock Performance

Shares of Lexeo Therapeutics stock traded up $0.17 during trading on Monday, reaching $6.00. The company had a trading volume of 591,660 shares, compared to its average volume of 960,914. The company has a market cap of $471.05 million, a price-to-earnings ratio of -2.73 and a beta of 1.52. The firm's fifty day moving average is $6.26 and its 200-day moving average is $7.82. Lexeo Therapeutics has a fifty-two week low of $2.43 and a fifty-two week high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. On average, research analysts anticipate that Lexeo Therapeutics will post -1.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 55,000 shares of Lexeo Therapeutics stock in a transaction on Monday, April 6th. The shares were sold at an average price of $5.69, for a total value of $312,950.00. Following the completion of the transaction, the chief executive officer owned 340,106 shares of the company's stock, valued at $1,935,203.14. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 68,189 shares of company stock valued at $397,156 over the last three months. Insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of hedge funds have recently added to or reduced their stakes in LXEO. RA Capital Management L.P. acquired a new position in Lexeo Therapeutics in the fourth quarter worth $49,650,000. Paradigm Biocapital Advisors LP bought a new stake in Lexeo Therapeutics in the fourth quarter valued at $47,299,000. Balyasny Asset Management L.P. bought a new stake in Lexeo Therapeutics in the second quarter valued at $16,117,000. Avoro Capital Advisors LLC bought a new stake in Lexeo Therapeutics in the fourth quarter valued at $32,769,000. Finally, State Street Corp lifted its stake in Lexeo Therapeutics by 485.1% in the fourth quarter. State Street Corp now owns 3,187,722 shares of the company's stock valued at $31,654,000 after buying an additional 2,642,877 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

About Lexeo Therapeutics

Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.

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