Lexeo Therapeutics (NASDAQ:LXEO) Given New $15.00 Price Target 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 lowered by investment analysts at Chardan Capital from $20.00 to $15.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Chardan Capital's price objective suggests a potential upside of 217.80% from the company's previous close.

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

Lexeo Therapeutics Price Performance

LXEO traded down $0.07 on Friday, reaching $4.72. The stock had a trading volume of 663,551 shares, compared to its average volume of 652,213. The company has a market capitalization of $156.70 million, a price-to-earnings ratio of -1.43 and a beta of 1.36. The firm has a 50-day moving average of $4.31 and a 200-day moving average of $3.70. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a fifty-two week low of $1.45 and a fifty-two week high of $12.76.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allostery Investments LP purchased a new position in Lexeo Therapeutics in the fourth quarter worth about $33,000. CWM LLC boosted its position in shares of Lexeo Therapeutics by 150.3% during the second quarter. CWM LLC now owns 10,351 shares of the company's stock valued at $42,000 after buying an additional 6,216 shares during the period. Ethic Inc. purchased a new position in shares of Lexeo Therapeutics during the second quarter valued at approximately $44,000. Cerity Partners LLC purchased a new position in shares of Lexeo Therapeutics during the second quarter valued at approximately $50,000. Finally, Intech Investment Management LLC boosted its position in shares of Lexeo Therapeutics by 20.7% during the second quarter. Intech Investment Management LLC now owns 13,682 shares of the company's stock valued at $55,000 after buying an additional 2,342 shares during the period. Hedge funds and other institutional investors 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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