Lexeo Therapeutics (NASDAQ:LXEO) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• Lexeo Therapeutics has received a "Sell (D-)" rating from Weiss Ratings, despite mixed opinions from other analysts who have given the stock higher price targets.
• The company's stock recently opened at $8.03 and has faced a decline of 3.7%, with a 52-week low of $1.45 and a high of $11.72.
• Several institutional investors have significantly increased their stakes in Lexeo, indicating a potential interest in the company's clinical stage gene therapy developments.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

LXEO has been the topic of several other reports. Leerink Partners boosted their price objective on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday. Chardan Capital upped their target price on shares of Lexeo Therapeutics from $15.00 to $17.00 and gave the company a "buy" rating in a report on Tuesday. Oppenheimer initiated coverage on shares of Lexeo Therapeutics in a report on Thursday, July 31st. They issued an "outperform" rating and a $20.00 target price on the stock. Finally, HC Wainwright upped their target price on shares of Lexeo Therapeutics from $9.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lexeo Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Lexeo Therapeutics Stock Down 3.7%

Lexeo Therapeutics stock opened at $8.03 on Wednesday. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $11.72. The firm's 50-day simple moving average is $5.35 and its 200 day simple moving average is $4.16. The firm has a market capitalization of $433.62 million, a PE ratio of -2.46 and a beta of 1.66.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. lifted its holdings 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 acquiring an additional 3,469,210 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Lexeo Therapeutics during the 2nd quarter worth about $16,117,000. Affinity Asset Advisors LLC lifted its holdings 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 acquiring an additional 2,108,474 shares during the period. Vestal Point Capital LP lifted its holdings 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 acquiring an additional 2,091,912 shares during the period. Finally, Millennium Management LLC lifted its holdings 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 acquiring an additional 929,538 shares during the period. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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