Lexeo Therapeutics (NASDAQ:LXEO) Earns Outperform Rating from Analysts at Oppenheimer

Key Points

• Oppenheimer has initiated coverage on Lexeo Therapeutics (NASDAQ:LXEO) with an "outperform" rating and set a price target of $20.00, indicating a potential upside of 330.11% from the current price.
• JPMorgan and HC Wainwright have recently adjusted their price targets for Lexeo, with JPMorgan lowering it from $16.00 to $10.00, while HC Wainwright reduced their target from $23.00 to $15.00.
• Lexeo Therapeutics has seen a 13.4% increase in stock price, with its current price at $4.65, though the company reported earnings per share of ($0.99) for the last quarter, missing estimates.

Oppenheimer assumed coverage on shares of Lexeo Therapeutics (NASDAQ:LXEO - Free Report) in a report published on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $20.00 price target on the stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price objective on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Chardan Capital cut their price objective on Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, HC Wainwright cut their price objective on Lexeo Therapeutics from $23.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $17.17.

Lexeo Therapeutics Price Performance

Lexeo Therapeutics stock traded down $0.12 during midday trading on Thursday, reaching $4.61. The company's stock had a trading volume of 552,822 shares, compared to its average volume of 462,100. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $13.63. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $3.99 and a 200-day moving average price of $3.74. The stock has a market cap of $153.05 million, a PE ratio of -1.40 and a beta of 1.35.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew 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 purchasing an additional 3,093 shares during the period. Wells Fargo & Company MN grew 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 purchasing an additional 3,714 shares during the period. Barclays PLC grew its stake in Lexeo Therapeutics by 9.9% in the 4th quarter. Barclays PLC now owns 55,161 shares of the company's stock valued at $363,000 after purchasing an additional 4,951 shares during the period. Rhumbline Advisers grew its stake in Lexeo Therapeutics by 19.8% in the 1st quarter. Rhumbline Advisers now owns 30,192 shares of the company's stock valued at $105,000 after purchasing an additional 4,995 shares during the period. Finally, Allostery Investments LP bought a new position in Lexeo Therapeutics in the 4th quarter valued at $33,000. Institutional investors 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.