Brokerages Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Price Target at $15.33

Key Points

• Lexeo Therapeutics, Inc. has received an average rating of "Buy" from six ratings firms, with a consensus target price of $15.33 per share.
• Recent price targets for Lexeo Therapeutics have been adjusted downward by several analysts, with JPMorgan reducing their estimate from $16.00 to $10.00.
• The stock has seen significant investment from hedge funds, with Frazier Life Sciences Management increasing their stake by 363.1% in the latest quarter.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) has been assigned a consensus rating of "Buy" from the six research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.3333.

A number of equities research analysts recently issued reports on the company. Chardan Capital dropped their target price on Lexeo Therapeutics from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. dropped their target price on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Oppenheimer assumed coverage on Lexeo Therapeutics in a research report on Thursday, July 31st. They issued an "outperform" rating and a $20.00 target price on the stock. Finally, HC Wainwright dropped their target price on Lexeo Therapeutics from $15.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, August 15th.

Lexeo Therapeutics Trading Up 3.1%

Shares of NASDAQ:LXEO traded up $0.16 during trading on Friday, hitting $5.31. 380,751 shares of the company's stock traded hands, compared to its average volume of 459,407. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $11.72. The company has a market cap of $286.74 million, a price-to-earnings ratio of -1.63 and a beta of 1.36. The company has a 50-day moving average price of $4.71 and a 200-day moving average price of $3.85.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.04. On average, analysts predict that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of LXEO. Balyasny Asset Management L.P. acquired a new position in shares of Lexeo Therapeutics during the 2nd quarter worth approximately $16,117,000. Frazier Life Sciences Management L.P. increased its position in shares of Lexeo Therapeutics by 363.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company's stock worth $17,787,000 after purchasing an additional 3,469,210 shares during the last quarter. Affinity Asset Advisors LLC increased its position in shares of Lexeo Therapeutics by 142.4% during the 2nd quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company's stock worth $14,429,000 after purchasing an additional 2,108,474 shares during the last quarter. Vestal Point Capital LP increased its position in shares of Lexeo Therapeutics by 184.1% during the 2nd quarter. Vestal Point Capital LP now owns 3,228,161 shares of the company's stock worth $12,977,000 after purchasing an additional 2,091,912 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Lexeo Therapeutics by 654.8% during the 1st quarter. Millennium Management LLC now owns 1,071,489 shares of the company's stock worth $3,718,000 after purchasing an additional 929,538 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.

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.