Lexeo Therapeutics (NASDAQ:LXEO) Price Target Raised to $20.00

Key Points

• Lexeo Therapeutics has had its price target raised by Leerink Partners from $9.00 to $20.00, indicating a potential upside of 137.95% from its previous closing price.
• The stock currently holds an average rating of "Moderate Buy" from analysts, with six firms rating it as a buy and one as a sell.
• Despite its recent performance, Lexeo Therapeutics reported (–$0.60) earnings per share, slightly beating analysts' expectations.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) had its price target hoisted by analysts at Leerink Partners from $9.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Leerink Partners' price target indicates a potential upside of 137.95% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Oppenheimer started coverage on Lexeo Therapeutics in a report on Thursday, July 31st. They set an "outperform" rating and a $20.00 price objective on the stock. Chardan Capital cut their target price on Lexeo Therapeutics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lexeo Therapeutics in a report on Saturday, September 27th. Finally, HC Wainwright cut 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, August 15th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.67.

Lexeo Therapeutics Price Performance

Shares of NASDAQ LXEO traded up $1.94 during mid-day trading on Tuesday, hitting $8.41. 6,804,593 shares of the stock traded hands, compared to its average volume of 671,866. Lexeo Therapeutics has a twelve month low of $1.45 and a twelve month high of $11.72. The company has a market cap of $453.88 million, a PE ratio of -2.59 and a beta of 1.66. The firm has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $4.11.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.04. On average, equities research analysts anticipate that Lexeo Therapeutics will post -3.14 earnings per share for the current fiscal year.

Institutional Trading of Lexeo Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in Lexeo Therapeutics by 150.3% in the 2nd quarter. CWM LLC now owns 10,351 shares of the company's stock valued at $42,000 after buying an additional 6,216 shares in the last quarter. Ethic Inc. bought a new stake in Lexeo Therapeutics in the 2nd quarter valued at about $44,000. Cerity Partners LLC bought a new stake in Lexeo Therapeutics in the 2nd quarter valued at about $50,000. Intech Investment Management LLC increased its position 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 buying an additional 2,342 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Lexeo Therapeutics during the 2nd quarter worth approximately $60,000. 60.67% of the stock is owned by institutional investors.

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.

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