HC Wainwright Reiterates “Buy” Rating for Lexeo Therapeutics (NASDAQ:LXEO)

Lexeo Therapeutics (NASDAQ:LXEO)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $23.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 418.02% from the stock’s current price.

Several other brokerages also recently issued reports on LXEO. Leerink Partners decreased their price objective on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday. Royal Bank of Canada decreased their price target on Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Chardan Capital reiterated a “buy” rating and issued a $25.00 target price on shares of Lexeo Therapeutics in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.80.

Lexeo Therapeutics Price Performance

Shares of Lexeo Therapeutics stock opened at $4.44 on Wednesday. The stock has a market cap of $146.81 million, a price-to-earnings ratio of -1.41 and a beta of 3.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. The stock has a 50 day moving average price of $4.12 and a 200-day moving average price of $6.67. Lexeo Therapeutics has a one year low of $2.32 and a one year high of $19.50.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data 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. Equities analysts expect that Lexeo Therapeutics will post -3.14 EPS for the current year.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds have recently made changes to their positions in LXEO. Frazier Life Sciences Management L.P. purchased a new position in shares of Lexeo Therapeutics during the third quarter valued at $11,307,000. Janus Henderson Group PLC grew its holdings in Lexeo Therapeutics by 18.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after acquiring an additional 599,203 shares in the last quarter. Altium Capital Management LLC purchased a new position in Lexeo Therapeutics during the 4th quarter valued at about $2,665,000. Point72 Asset Management L.P. raised its holdings in shares of Lexeo Therapeutics by 102.5% in the 4th quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock valued at $4,937,000 after purchasing an additional 379,828 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of Lexeo Therapeutics by 84.5% in the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after purchasing an additional 355,928 shares during the period. 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.