Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Receives Average Rating of "Buy" from Brokerages

Key Points

• Analyst sentiment is broadly positive: Nine firms give Lexeo Therapeutics a consensus “Buy” rating, including six buys and two strong buys, with an average 12-month price target of $18.12.
• Shares remain under pressure: LXEO opened at $3.14, near its 52-week low of $3.14, and recently reported a quarterly loss of $0.30 per share versus the $0.29 expected loss.
• Insiders sold shares while institutions hold a majority stake: Insiders sold 66,326 shares worth about $299,817 over the past quarter, while institutional investors own 60.67% of the company.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) has earned a consensus recommendation of "Buy" from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $18.12.

Several analysts recently issued reports on the company. Weiss Ratings raised Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. Leerink Partners restated an "outperform" rating and set a $15.00 price objective on shares of Lexeo Therapeutics in a research note on Wednesday, September 23rd. Wall Street Zen raised Lexeo Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 19th. JPMorgan Chase & Co. cut their target price on Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, June 25th. Finally, Chardan Capital raised shares of Lexeo Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th.

Lexeo Therapeutics Stock Down 5.1%

Shares of NASDAQ:LXEO opened at $3.14 on Tuesday. Lexeo Therapeutics has a fifty-two week low of $3.14 and a fifty-two week high of $10.99. The firm has a 50-day simple moving average of $4.53 and a 200 day simple moving average of $5.08. The company has a market cap of $257.64 million, a PE ratio of -2.73 and a beta of 1.50.

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

Insider Activity

In other Lexeo Therapeutics news, CEO Richard Townsend sold 25,947 shares of the business's 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 directly owned 377,817 shares of the company's stock, valued at $1,692,620.16. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the transaction, the insider directly owned 82,194 shares of the company's stock, valued at $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. Over the last quarter, insiders sold 66,326 shares of company stock worth $299,817. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LXEO. Caitong International Asset Management Co. Ltd bought a new position in shares of Lexeo Therapeutics in the fourth quarter worth $37,000. Legal & General Group Plc bought a new stake in shares of Lexeo Therapeutics during the second quarter valued at about $32,000. ProShare Advisors LLC bought a new stake in shares of Lexeo Therapeutics during the fourth quarter valued at about $146,000. Spark Investment Management LLC acquired a new stake in Lexeo Therapeutics in the second quarter worth about $70,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Lexeo Therapeutics in the second quarter worth about $86,000. 60.67% of the stock is owned by institutional investors.

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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