Lexeo Therapeutics (NASDAQ:LXEO) Trading Up 1.8% - Still a Buy?

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% during mid-day trading on Friday . The stock traded as high as $4.54 and last traded at $4.53. 190,632 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 407,692 shares. The stock had previously closed at $4.45.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut 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. HC Wainwright lowered their target price 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. Chardan Capital dropped their target price on shares of Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Oppenheimer began coverage on shares of Lexeo Therapeutics in a report on Thursday, July 31st. They set an "outperform" rating and a $20.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Lexeo Therapeutics currently has a consensus rating of "Buy" and an average price target of $17.17.

Lexeo Therapeutics Stock Up 2.3%

The stock's fifty day simple moving average is $4.24 and its two-hundred day simple moving average is $3.70. The company has a market capitalization of $158.62 million, a price-to-earnings ratio of -1.46 and a beta of 1.36. 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 released its quarterly earnings results 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, sell-side analysts predict that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors have recently modified their holdings of LXEO. Affinity Asset Advisors LLC bought a new position in shares of Lexeo Therapeutics during the first quarter worth about $5,139,000. Millennium Management LLC grew its position in shares of Lexeo Therapeutics by 654.8% during the first quarter. Millennium Management LLC now owns 1,071,489 shares of the company's stock worth $3,718,000 after acquiring an additional 929,538 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Lexeo Therapeutics by 15.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,339,254 shares of the company's stock worth $28,508,000 after acquiring an additional 576,059 shares during the last quarter. Altium Capital Management LLC bought a new position in shares of Lexeo Therapeutics during the fourth quarter worth about $2,665,000. Finally, Point72 Asset Management L.P. grew its position in shares of Lexeo Therapeutics by 102.5% during the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company's stock worth $4,937,000 after acquiring an additional 379,828 shares during the last quarter. 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.