Lexeo Therapeutics (NASDAQ:LXEO) Trading Up 3.6% - Here's Why

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) was up 3.6% during trading on Wednesday . The company traded as high as $4.68 and last traded at $4.60. Approximately 550,115 shares changed hands during trading, an increase of 1% from the average daily volume of 544,468 shares. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LXEO shares. Leerink Partners reduced their target price on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. HC Wainwright reduced their target price on shares of Lexeo Therapeutics from $23.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Royal Bank Of Canada reduced their target price on shares of Lexeo Therapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Chardan Capital dropped their price target on shares of Lexeo Therapeutics from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $16.60.

Lexeo Therapeutics Trading Down 0.2%

The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $3.65 and its 200-day moving average is $4.02. The firm has a market cap of $152.37 million, a P/E ratio of -1.39 and a beta of 1.32.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.19). As a group, analysts forecast 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 the company. Bank of New York Mellon Corp grew its position in shares of Lexeo Therapeutics by 5.6% during the fourth quarter. Bank of New York Mellon Corp now owns 50,660 shares of the company's stock worth $333,000 after acquiring an additional 2,677 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Lexeo Therapeutics by 30.1% during the fourth quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company's stock worth $88,000 after acquiring an additional 3,093 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Lexeo Therapeutics by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock worth $73,000 after acquiring an additional 3,714 shares during the last quarter. Barclays PLC grew its position in shares of Lexeo Therapeutics by 9.9% during the fourth quarter. Barclays PLC now owns 55,161 shares of the company's stock worth $363,000 after acquiring an additional 4,951 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of Lexeo Therapeutics by 19.8% during the first quarter. Rhumbline Advisers now owns 30,192 shares of the company's stock worth $105,000 after acquiring an additional 4,995 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.