Lexeo Therapeutics (NASDAQ:LXEO) Given New $9.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has lowered Lexeo Therapeutics' price target from $15.00 to $9.00, suggesting an 87.89% potential upside from its current stock price.
• Multiple other analysts have also revised their targets, with an average target of $16.17, where six analysts maintain a "buy" rating on the stock.
• Lexeo Therapeutics' stock opened at $4.79, with a market capitalization of $159.03 million and a 12-month low of $1.45.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its price target lowered by equities researchers at HC Wainwright from $15.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 87.89% from the stock's current price.

LXEO has been the topic of a number of other reports. Chardan Capital lowered their price objective on shares of Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price objective on shares of Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Finally, Oppenheimer began coverage on shares of Lexeo Therapeutics in a research report on Thursday, July 31st. They set an "outperform" rating and a $20.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lexeo Therapeutics currently has an average rating of "Buy" and an average price target of $16.17.

Lexeo Therapeutics Stock Performance

Shares of Lexeo Therapeutics stock opened at $4.79 on Friday. The firm's fifty day simple moving average is $4.31 and its 200-day simple moving average is $3.70. The stock has a market capitalization of $159.03 million, a price-to-earnings ratio of -1.45 and a beta of 1.36. Lexeo Therapeutics has a 12 month low of $1.45 and a 12 month high of $12.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.42 and a quick ratio of 3.42.

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 analysts' consensus estimates of ($0.64) by $0.04. As a group, equities analysts forecast that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LXEO. Allostery Investments LP acquired a new position in shares of Lexeo Therapeutics during the 4th quarter worth $33,000. CWM LLC raised its stake in shares of Lexeo Therapeutics by 150.3% during the 2nd quarter. CWM LLC now owns 10,351 shares of the company's stock worth $42,000 after buying an additional 6,216 shares during the last quarter. Ethic Inc. acquired a new position in shares of Lexeo Therapeutics during the 2nd quarter worth $44,000. Cerity Partners LLC acquired a new position in Lexeo Therapeutics in the 2nd quarter valued at about $50,000. Finally, Intech Investment Management LLC raised its stake in Lexeo Therapeutics by 20.7% in the 2nd quarter. Intech Investment Management LLC now owns 13,682 shares of the company's stock valued at $55,000 after purchasing an additional 2,342 shares during the last quarter. 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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