JPMorgan Chase & Co. Cuts Lexeo Therapeutics (NASDAQ:LXEO) Price Target to $10.00

Lexeo Therapeutics (NASDAQ:LXEO - Free Report) had its target price reduced by JPMorgan Chase & Co. from $16.00 to $10.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Leerink Partners cut their target price on Lexeo Therapeutics from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Royal Bank of Canada cut their price objective on Lexeo Therapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. HC Wainwright reduced their price objective on shares of Lexeo Therapeutics from $23.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Chardan Capital decreased their target price on shares of Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $18.50.

Lexeo Therapeutics Stock Performance

Shares of NASDAQ LXEO traded up $0.20 during midday trading on Friday, reaching $2.92. 285,878 shares of the company traded hands, compared to its average volume of 501,190. The company has a market cap of $96.94 million, a price-to-earnings ratio of -0.92 and a beta of 1.27. The stock has a 50-day moving average price of $3.00 and a 200 day moving average price of $4.55. Lexeo Therapeutics has a 52 week low of $1.45 and a 52 week high of $19.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.19). Sell-side analysts anticipate that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Allostery Investments LP purchased a new stake in shares of Lexeo Therapeutics in the fourth quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. purchased a new position in Lexeo Therapeutics during the fourth quarter valued at approximately $46,000. Price T Rowe Associates Inc. MD acquired a new position in Lexeo Therapeutics in the 4th quarter valued at approximately $69,000. SG Americas Securities LLC purchased a new stake in Lexeo Therapeutics in the 4th quarter worth approximately $72,000. Finally, Wells Fargo & Company MN lifted its position in Lexeo Therapeutics by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock worth $73,000 after buying an additional 3,714 shares in the last quarter. Hedge funds and other 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.