Oppenheimer Begins Coverage on Lexeo Therapeutics (NASDAQ:LXEO)

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 initiated coverage on shares of Lexeo Therapeutics (NASDAQ:LXEO - Free Report) in a report issued on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $20.00 target price on the stock.

LXEO has been the subject of several other research reports. HC Wainwright dropped their price objective on shares of Lexeo Therapeutics from $23.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their price objective on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Chardan Capital lowered their price target on Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $17.17.

Lexeo Therapeutics Price Performance

LXEO stock traded up $0.25 during trading on Thursday, hitting $4.86. 150,819 shares of the stock traded hands, compared to its average volume of 674,981. Lexeo Therapeutics has a one year low of $1.45 and a one year high of $12.95. The company has a 50 day simple moving average of $3.99 and a 200 day simple moving average of $3.72. 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 stock has a market cap of $161.17 million, a price-to-earnings ratio of -1.48 and a beta of 1.35.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly 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). Equities analysts expect that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Institutional Trading of Lexeo Therapeutics

A number of institutional investors have recently bought and sold shares of LXEO. JPMorgan Chase & Co. lifted its holdings in shares of Lexeo Therapeutics by 30.1% in the fourth quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company's stock worth $88,000 after acquiring an additional 3,093 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Lexeo Therapeutics by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock worth $73,000 after acquiring an additional 3,714 shares during the last quarter. Barclays PLC raised its position in shares of Lexeo Therapeutics by 9.9% during the fourth quarter. Barclays PLC now owns 55,161 shares of the company's stock worth $363,000 after acquiring an additional 4,951 shares during the last quarter. Rhumbline Advisers raised its holdings in Lexeo Therapeutics by 19.8% during the 1st quarter. Rhumbline Advisers now owns 30,192 shares of the company's stock worth $105,000 after purchasing an additional 4,995 shares during the last quarter. Finally, Allostery Investments LP bought a new stake in Lexeo Therapeutics in the 4th quarter valued at about $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.