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

Key Points

• Lexeo Therapeutics, Inc. has received a consensus recommendation of "Buy" from six analysts, with an average 12-month price target of $17.17.
• Analysts have varying target prices for the stock, with Oppenheimer setting a target of $20.00 and JPMorgan reducing theirs from $16.00 to $10.00.
• Institutional investors own 60.67% of Lexeo Therapeutics' shares, highlighting strong support from major stakeholders in the company.

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 reports. Six research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have covered the stock in the last year is $17.17.

A number of analysts have commented on the stock. HC Wainwright dropped their price target on shares of Lexeo Therapeutics from $23.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered 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 note on Friday, May 30th. Oppenheimer initiated coverage on shares of Lexeo Therapeutics in a research note on Thursday. They issued an "outperform" rating and a $20.00 price objective on the stock. Finally, Chardan Capital lowered their price objective on shares of Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th.

Lexeo Therapeutics Price Performance

Shares of LXEO stock traded down $0.12 during midday trading on Thursday, reaching $4.61. 552,822 shares of the company were exchanged, compared to its average volume of 462,100. Lexeo Therapeutics has a 12 month low of $1.45 and a 12 month high of $13.63. The company has a market cap of $153.05 million, a P/E ratio of -1.40 and a beta of 1.35. The company's 50 day moving average price is $3.99 and its two-hundred day moving average price is $3.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.42 and a current ratio of 3.42.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.19). On average, sell-side analysts expect that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds have recently made changes to their positions in the business. Ethic Inc. purchased a new position in shares of Lexeo Therapeutics in the second quarter worth approximately $44,000. Privium Fund Management B.V. increased its position in shares of Lexeo Therapeutics by 11.3% in the second quarter. Privium Fund Management B.V. now owns 178,356 shares of the company's stock worth $753,000 after acquiring an additional 18,158 shares in the last quarter. CWM LLC increased its position in shares of Lexeo Therapeutics by 150.3% in the second quarter. CWM LLC now owns 10,351 shares of the company's stock worth $42,000 after acquiring an additional 6,216 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Lexeo Therapeutics in the second quarter worth approximately $60,000. Finally, Palumbo Wealth Management LLC purchased a new position in shares of Lexeo Therapeutics in the second quarter worth approximately $226,000. Institutional investors and hedge funds own 60.67% of the company's stock.

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.