Lexeo Therapeutics (NASDAQ:LXEO) Price Target Cut to $15.00 by Analysts at Chardan Capital

Key Points

• Chardan Capital has reduced its price target for Lexeo Therapeutics from $20.00 to $15.00, while maintaining a "buy" rating, suggesting a potential upside of 217.80% from the stock's previous close.
• Other analysts have also adjusted their targets, with HC Wainwright lowering its target to $9.00 and JPMorgan reducing it to $10.00, indicating mixed views among analysts.
• Lexeo Therapeutics is involved in developing gene therapies for various types of cardiomyopathy, including AAVrh10-based candidates for Friedreich's ataxia and plakophilin-2 conditions.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its price objective cut by stock analysts at Chardan Capital from $20.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Chardan Capital's price objective would indicate a potential upside of 212.50% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. HC Wainwright decreased their price target on Lexeo Therapeutics from $15.00 to $9.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, Oppenheimer began coverage on Lexeo Therapeutics in a research note on Thursday, July 31st. They set an "outperform" rating and a $20.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $15.33.

Lexeo Therapeutics Stock Up 0.4%

Shares of Lexeo Therapeutics stock traded up $0.02 on Friday, hitting $4.80. 296,951 shares of the company's stock traded hands, compared to its average volume of 411,611. Lexeo Therapeutics has a 52-week low of $1.45 and a 52-week high of $12.76. The stock has a market cap of $159.36 million, a P/E ratio of -1.47 and a beta of 1.36. The firm's 50-day moving average is $4.34 and its 200 day moving average is $3.69.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.64) by $0.04. Equities research analysts forecast that Lexeo Therapeutics will post -3.14 EPS for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of large investors have recently bought and sold shares of LXEO. Frazier Life Sciences Management L.P. boosted its stake in Lexeo Therapeutics by 363.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company's stock valued at $17,787,000 after acquiring an additional 3,469,210 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Lexeo Therapeutics by 15.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company's stock worth $28,508,000 after purchasing an additional 576,059 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Lexeo Therapeutics during the 2nd quarter valued at approximately $16,117,000. Affinity Asset Advisors LLC grew its stake in 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 buying an additional 2,108,474 shares during the last quarter. Finally, Vestal Point Capital LP grew 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 worth $12,977,000 after buying an additional 2,091,912 shares during the last quarter. 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.