Lexeo Therapeutics (NASDAQ:LXEO) Price Target Lowered to $22.00 at Chardan Capital

Lexeo Therapeutics (NASDAQ:LXEO) had its price target dropped by investment analysts at Chardan Capital from $25.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

A number of other research firms have also commented on LXEO. Royal Bank of Canada cut their price objective on shares of Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Leerink Partners decreased their price objective 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $22.20.

Lexeo Therapeutics Stock Down 23.5 %

Shares of NASDAQ:LXEO opened at $1.79 on Tuesday. The business has a fifty day simple moving average of $3.74 and a 200 day simple moving average of $6.23. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a market cap of $59.42 million, a P/E ratio of -0.57 and a beta of 1.52. Lexeo Therapeutics has a 12-month low of $1.45 and a 12-month high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Monday, March 24th. The company reported ($0.78) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.09. Analysts predict that Lexeo Therapeutics will post -3.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Allostery Investments LP purchased a new position in Lexeo Therapeutics during the fourth quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Lexeo Therapeutics during the fourth quarter worth $46,000. BNP Paribas Financial Markets increased its stake in Lexeo Therapeutics by 184.2% during the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after purchasing an additional 3,591 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Lexeo Therapeutics in the fourth quarter valued at $69,000. Finally, SG Americas Securities LLC purchased a new position in Lexeo Therapeutics in the fourth quarter worth approximately $72,000. 60.67% of the stock is currently owned by hedge funds and other 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.