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 objective cut by equities researchers at HC Wainwright from $15.00 to $9.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 86.49% from the company's previous close.

A number of other research analysts also recently weighed in on the company. Oppenheimer started coverage on Lexeo Therapeutics in a research note on Thursday, July 31st. They issued an "outperform" rating and a $20.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Finally, Chardan Capital decreased their target price on Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Lexeo Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $15.33.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO traded up $0.0460 on Friday, hitting $4.8260. 129,042 shares of the stock were exchanged, compared to its average volume of 645,393. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $12.76. The stock has a market capitalization of $160.22 million, a price-to-earnings ratio of -1.48 and a beta of 1.36. The company's 50-day moving average price is $4.34 and its 200 day moving average price is $3.68.

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

Institutional Investors Weigh In On Lexeo Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP boosted its stake 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 buying an additional 2,091,912 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of 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 last quarter. BNP Paribas Financial Markets raised its holdings in Lexeo Therapeutics by 20.4% during the second quarter. BNP Paribas Financial Markets now owns 48,434 shares of the company's stock worth $195,000 after acquiring an additional 8,223 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Lexeo Therapeutics by 39.1% during the second quarter. Bridgeway Capital Management LLC now owns 53,400 shares of the company's stock valued at $215,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Lexeo Therapeutics in the second quarter valued at approximately $16,117,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.