Lexeo Therapeutics (NASDAQ:LXEO) Given New $13.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has reduced its price target for Lexeo Therapeutics from $15.00 to $13.00, maintaining a "buy" rating, indicating a potential upside of 41% from the current price.
• Analysts have varied opinions on Lexeo, with several rating it as "buy," while Weiss Ratings assigned a "sell (d-)" rating, contributing to an average price target of $18.57.
• Insider trading activity has been noted, with key insiders selling a total of 29,091 shares in the last ninety days, reflecting a decrease in their ownership.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its price objective cut by equities research analysts at HC Wainwright from $15.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 41.00% from the company's current price.

A number of other research analysts also recently commented on the stock. Oppenheimer initiated coverage on shares of Lexeo Therapeutics in a research note on Thursday, July 31st. They set an "outperform" rating and a $20.00 price objective on the stock. Leerink Partners raised their price target on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. Guggenheim started coverage on shares of Lexeo Therapeutics in a research report on Wednesday, October 15th. They issued a "buy" rating and a $30.00 price target on the stock. Chardan Capital raised their price target on shares of Lexeo Therapeutics from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lexeo Therapeutics in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.57.

Lexeo Therapeutics Price Performance

NASDAQ LXEO opened at $9.22 on Tuesday. Lexeo Therapeutics has a 12 month low of $1.45 and a 12 month high of $11.72. The company has a market capitalization of $497.88 million, a price-to-earnings ratio of -2.83 and a beta of 1.66. The company's fifty day moving average price is $6.00 and its two-hundred day moving average price is $4.46.

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

Insider Activity at Lexeo Therapeutics

In related news, insider Eric Adler sold 3,382 shares of Lexeo Therapeutics stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $8.94, for a total value of $30,235.08. Following the sale, the insider directly owned 73,261 shares in the company, valued at $654,953.34. This trade represents a 4.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tai Sandi See sold 3,888 shares of Lexeo Therapeutics stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $8.94, for a total transaction of $34,758.72. Following the completion of the sale, the insider owned 65,862 shares in the company, valued at approximately $588,806.28. This represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,091 shares of company stock worth $232,007 in the last ninety days. 5.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Several large investors have recently bought and sold shares of the stock. CWM LLC increased its stake in Lexeo Therapeutics by 82.2% during the 3rd quarter. CWM LLC now owns 18,864 shares of the company's stock valued at $125,000 after buying an additional 8,513 shares during the period. Vestal Point Capital LP increased its stake in Lexeo Therapeutics by 184.1% during the 2nd quarter. Vestal Point Capital LP now owns 3,228,161 shares of the company's stock valued at $12,977,000 after buying an additional 2,091,912 shares during the period. Frazier Life Sciences Management L.P. increased its stake in 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 valued at $17,787,000 after buying an additional 3,469,210 shares during the period. BNP Paribas Financial Markets increased its stake in Lexeo Therapeutics by 20.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 48,434 shares of the company's stock valued at $195,000 after buying an additional 8,223 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in Lexeo Therapeutics by 39.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 53,400 shares of the company's stock valued at $215,000 after buying an additional 15,000 shares during the period. Institutional investors and hedge funds own 60.67% of the company's stock.

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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