Leerink Partners Issues Positive Forecast for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price objective lifted by Leerink Partners from $9.00 to $20.00 in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have an outperform rating on the stock.

LXEO has been the topic of a number of other reports. Chardan Capital dropped their target price on Lexeo Therapeutics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. HC Wainwright dropped their target price on Lexeo Therapeutics from $15.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Oppenheimer initiated coverage on Lexeo Therapeutics in a report on Thursday, July 31st. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lexeo Therapeutics in a report on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Lexeo Therapeutics Stock Performance

Shares of NASDAQ LXEO opened at $8.34 on Tuesday. Lexeo Therapeutics has a 1 year low of $1.45 and a 1 year high of $11.72. The firm has a market cap of $450.36 million, a price-to-earnings ratio of -2.56 and a beta of 1.66. The stock’s 50-day simple moving average is $5.29 and its 200-day simple moving average is $4.14.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its earnings results on Thursday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.04. As a group, research analysts predict that Lexeo Therapeutics will post -3.14 EPS for the current year.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC grew its holdings in shares of Lexeo Therapeutics by 20.7% during the second 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. Bank of America Corp DE grew its holdings in shares of Lexeo Therapeutics by 22.4% during the second quarter. Bank of America Corp DE now owns 26,653 shares of the company’s stock valued at $107,000 after purchasing an additional 4,883 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Lexeo Therapeutics by 19.8% during the first 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. CWM LLC grew its holdings in shares of Lexeo Therapeutics by 150.3% during the second quarter. CWM LLC now owns 10,351 shares of the company’s stock valued at $42,000 after purchasing an additional 6,216 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Lexeo Therapeutics by 20.4% during the second quarter. BNP Paribas Financial Markets now owns 48,434 shares of the company’s stock valued at $195,000 after purchasing an additional 8,223 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.