Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) dropped 3.7% during trading on Thursday. The stock traded as low as $2.89 and last traded at $2.89. Approximately 492,468 shares changed hands during trading, a decline of 75% from the average session volume of 1,977,484 shares. The stock had previously closed at $3.00.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on LXEO shares. Raymond James Financial reiterated a "strong-buy" rating on shares of Lexeo Therapeutics in a research note on Tuesday, September 22nd. Chardan Capital raised shares of Lexeo Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. cut their target price on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of Lexeo Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, September 19th. Finally, Leerink Partners reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Lexeo Therapeutics in a research note on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Lexeo Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $16.43.
Get Our Latest Stock Report on Lexeo Therapeutics
Lexeo Therapeutics Stock Performance
The business has a 50 day moving average of $4.00 and a two-hundred day moving average of $4.72. The firm has a market capitalization of $237.12 million, a price-to-earnings ratio of -2.51 and a beta of 1.63.
Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.01). On average, equities analysts predict that Lexeo Therapeutics, Inc. will post -1.18 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Avoro Capital Advisors LLC bought a new position in shares of Lexeo Therapeutics in the second quarter valued at $6,932,175. Frazier Life Sciences Management L.P. grew its holdings in shares of Lexeo Therapeutics by 9.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 4,824,725 shares of the company's stock valued at $22,459,000 after buying an additional 400,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Lexeo Therapeutics during the second quarter valued at about $1,237,000. Nantahala Capital Management LLC bought a new stake in shares of Lexeo Therapeutics during the second quarter worth about $6,051,500. Finally, Dimensional Fund Advisors LP increased its position in shares of Lexeo Therapeutics by 27.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,103,584 shares of the company's stock worth $6,332,000 after acquiring an additional 240,692 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company's stock.
About Lexeo Therapeutics
(
Get Free Report)
Lexeo Therapeutics, Inc NASDAQ: LXEO is a clinical-stage biotechnology company developing genetic medicines for serious diseases with limited treatment options. The company uses adeno-associated virus (AAV) vectors and other gene therapy technologies to deliver genetic material intended to address underlying causes of disease, with a focus on conditions affecting the central nervous system and cardiovascular system.
Lexeo's pipeline includes LX2006, an investigational gene therapy being developed for Friedreich's ataxia cardiomyopathy, a potentially life-threatening cardiac complication of Friedreich's ataxia.
Further Reading
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