Lexeo Therapeutics (NASDAQ:LXEO) Stock Price Up 1.8% - Here's What Happened

Key Points

• Lexeo Therapeutics' stock price increased by 1.8%, closing at $4.53 after trading as high as $4.54, despite a 53% drop in trading volume compared to its average.
• Investment analysts have mixed views; Chardan Capital and HC Wainwright set buy ratings with new price targets of $20.00 and $15.00 respectively, while JPMorgan Chase lowered their target to $10.00.
• The company reported a quarterly earnings loss of ($0.99) per share, which fell short of the consensus estimate of ($0.80) by ($0.19).

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) shares traded up 1.8% on Friday . The stock traded as high as $4.54 and last traded at $4.53. 190,632 shares traded hands during trading, a decline of 53% from the average session volume of 407,692 shares. The stock had previously closed at $4.45.

Wall Street Analyst Weigh In

LXEO has been the topic of a number of research reports. HC Wainwright lowered their price target on shares of Lexeo Therapeutics from $23.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on shares of Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Oppenheimer began coverage on shares of Lexeo Therapeutics in a research report on Thursday, July 31st. They issued an "outperform" rating and a $20.00 target price for the company. Finally, Chardan Capital dropped their price target on Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $17.17.

Lexeo Therapeutics Stock Down 2.0%

The company's 50 day moving average price is $4.21 and its two-hundred day moving average price is $3.70. The firm has a market cap of $147.41 million, a PE ratio of -1.35 and a beta of 1.36. 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 (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.19). On average, equities research analysts expect that Lexeo Therapeutics, Inc. will post -3.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Lexeo Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in Lexeo Therapeutics by 20.7% during 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. JPMorgan Chase & Co. grew its holdings in Lexeo Therapeutics by 30.1% during the 4th quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company's stock valued at $88,000 after purchasing an additional 3,093 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Lexeo Therapeutics by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock valued at $73,000 after purchasing an additional 3,714 shares during the last quarter. Barclays PLC grew its holdings in Lexeo Therapeutics by 9.9% during the 4th quarter. Barclays PLC now owns 55,161 shares of the company's stock valued at $363,000 after purchasing an additional 4,951 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Lexeo Therapeutics by 19.8% during the 1st quarter. Rhumbline Advisers now owns 30,192 shares of the company's stock valued at $105,000 after purchasing an additional 4,995 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

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.