Chardan Capital Issues Positive Forecast for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price target lifted by Chardan Capital from $23.00 to $25.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of Lexeo Therapeutics in a research report on Thursday, October 31st. Leerink Partners decreased their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.71.

Lexeo Therapeutics Price Performance

Shares of LXEO opened at $6.65 on Wednesday. The firm has a market cap of $219.85 million and a price-to-earnings ratio of -2.10. The stock has a 50 day moving average of $9.01 and a 200-day moving average of $12.23. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics has a 52 week low of $6.65 and a 52 week high of $22.33.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $977,629.50. The trade was a 3.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 12,500 shares of company stock worth $113,300 in the last 90 days. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Lexeo Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after buying an additional 3,591 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Lexeo Therapeutics in the 3rd quarter worth $67,000. American International Group Inc. bought a new stake in shares of Lexeo Therapeutics in the 1st quarter worth $79,000. MetLife Investment Management LLC raised its stake in shares of Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after buying an additional 7,803 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares in the last quarter. Institutional investors own 60.67% of the company’s stock.

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.