Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts maintain a “Buy” consensus on Lexeo Therapeutics, with six buy ratings, two strong-buy ratings and one sell rating. The average 12-month price target is $18.75.
• Lexeo shares opened at $4.84, near the lower end of their 52-week range of $3.99 to $10.99. The company reported a quarterly loss of $0.30 per share, slightly below the $0.29-per-share consensus estimate.
• Institutional investors own 60.67% of the stock, while insiders sold 66,326 shares worth approximately $299,817 over the past 90 days, with the disclosed sales made to cover tax obligations from vested equity awards.

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) have been given an average rating of "Buy" by the nine research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $18.75.

Several analysts recently issued reports on the company. Weiss Ratings upgraded Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. Wall Street Zen cut Lexeo Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Chardan Capital raised Lexeo Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lowered their target price on Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, June 25th.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Townsend sold 25,947 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total value of $116,242.56. Following the completion of the sale, the chief executive officer owned 377,817 shares of the company's stock, valued at $1,692,620.16. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Lexeo Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the sale, the insider owned 82,194 shares in the company, valued at $363,297.48. This represents a 21.35% decrease in their position. 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 90 days, insiders sold 66,326 shares of company stock valued at $299,817. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. grew its stake in shares of Lexeo Therapeutics by 9.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 4,824,725 shares of the company's stock valued at $22,459,000 after acquiring an additional 400,000 shares in the last quarter. Montanova Capital LLC lifted its stake 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 acquiring an additional 5,134,200 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Lexeo Therapeutics by 17.2% in the second quarter. Wellington Management Group LLP now owns 202,383 shares of the company's stock worth $942,000 after acquiring an additional 29,680 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Lexeo Therapeutics in the second quarter valued at about $6,051,500. Finally, Avoro Capital Advisors LLC acquired a new stake in Lexeo Therapeutics during the 2nd quarter valued at approximately $6,932,175. 60.67% of the stock is owned by hedge funds and other institutional investors.

Lexeo Therapeutics Price Performance

Lexeo Therapeutics stock opened at $4.84 on Friday. The company has a market cap of $397.12 million, a price-to-earnings ratio of -4.21 and a beta of 1.50. Lexeo Therapeutics has a 12 month low of $3.99 and a 12 month high of $10.99. The stock's 50-day moving average is $4.73 and its 200-day moving average is $5.40.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.01). Research analysts anticipate that Lexeo Therapeutics will post -1.18 EPS for the current year.

Lexeo Therapeutics Company Profile

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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