Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Stock Rated "Buy" by Wall Street Analysts

Key Points

• Analysts rate Lexeo Therapeutics “Buy” on average: Of eight analysts, five recommend buying, two assign a strong-buy rating, and one recommends selling. The average 12-month price target is $16.43.
• The stock faces significant financial and market risks: Shares opened at $2.80, near their 52-week low of $2.55, and recently traded below both their 50-day and 200-day moving averages. Lexeo also reported a quarterly loss of $0.30 per share, slightly worse than estimates.
• Institutional ownership stands at 60.67%: Several investment firms recently initiated or increased positions, while Lexeo continues developing AAV-based genetic medicines for cardiovascular and central nervous system diseases.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) has received an average rating of "Buy" from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $16.43.

Several equities research analysts recently weighed in on the company. Leerink Partners restated an "outperform" rating and set a $15.00 target price on shares of Lexeo Therapeutics in a research note on Wednesday, September 23rd. Weiss Ratings upgraded shares of Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th. Raymond James Financial reissued a "strong-buy" rating on shares of Lexeo Therapeutics in a report on Tuesday, September 22nd. Wall Street Zen upgraded shares of Lexeo Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 19th. Finally, Chardan Capital upgraded shares of Lexeo Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th.

Lexeo Therapeutics Stock Down 3.1%

Shares of NASDAQ:LXEO opened at $2.80 on Friday. The stock has a market cap of $229.73 million, a P/E ratio of -2.43 and a beta of 1.63. The business has a fifty day moving average of $3.96 and a two-hundred day moving average of $4.71. Lexeo Therapeutics has a 52-week low of $2.55 and a 52-week high of $10.99.

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

Institutional Trading of Lexeo Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in shares of Lexeo Therapeutics by 5,159.1% during the 3rd quarter. Signaturefd LLC now owns 8,362 shares of the company's stock worth $28,000 after purchasing an additional 8,203 shares during the period. Legal & General Group Plc acquired a new position in Lexeo Therapeutics during the second quarter worth about $32,000. Caitong International Asset Management Co. Ltd purchased a new position in Lexeo Therapeutics in the fourth quarter valued at about $37,000. Abel Hall LLC purchased a new position in Lexeo Therapeutics in the third quarter valued at about $43,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Lexeo Therapeutics during the 2nd quarter valued at approximately $70,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical-stage biotechnology company developing genetic medicines for genetically defined cardiovascular and central nervous system diseases. The company uses adeno-associated virus (AAV) gene-delivery technologies to develop treatments intended to address the underlying causes of disease rather than only manage symptoms.

Lexeo's pipeline includes investigational programs for conditions such as Friedreich ataxia-associated cardiomyopathy, a serious heart complication of Friedreich ataxia, and genetic forms of neurodegenerative disease.

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