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

Key Points

• Lexeo Therapeutics, Inc. has received an average analyst recommendation of "Buy" from six different investment firms, indicating positive sentiment towards the stock.
• The company's average one-year price target is estimated at $15.33, despite recent price target reductions from some analysts.
• Lexeo Therapeutics reported a quarterly earnings per share of ($0.60), exceeding consensus estimates and indicating a more favorable performance than analysts predicted.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) has been assigned an average recommendation of "Buy" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.3333.

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

Lexeo Therapeutics Trading Down 1.6%

Shares of Lexeo Therapeutics stock traded down $0.08 during midday trading on Monday, reaching $4.69. The company had a trading volume of 67,937 shares, compared to its average volume of 630,505. Lexeo Therapeutics has a 1-year low of $1.45 and a 1-year high of $11.96. The company has a market capitalization of $252.99 million, a price-to-earnings ratio of -1.44 and a beta of 1.36. The stock has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $3.66.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.64) by $0.04. Sell-side analysts expect that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LXEO. JPMorgan Chase & Co. increased its stake in Lexeo Therapeutics by 30.1% in the 4th quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company's stock valued at $88,000 after buying an additional 3,093 shares during the last quarter. Geode Capital Management LLC increased its stake in Lexeo Therapeutics by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 567,383 shares of the company's stock valued at $3,735,000 after buying an additional 14,136 shares during the last quarter. Wells Fargo & Company MN increased its stake in Lexeo Therapeutics by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock valued at $73,000 after buying an additional 3,714 shares during the last quarter. Barclays PLC increased its stake in shares of Lexeo Therapeutics by 9.9% during the 4th quarter. Barclays PLC now owns 55,161 shares of the company's stock worth $363,000 after purchasing an additional 4,951 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Lexeo Therapeutics during the 4th quarter worth about $134,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

About Lexeo Therapeutics

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.