Lexeo Therapeutics (NASDAQ:LXEO) Now Covered by Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald started coverage on shares of Lexeo Therapeutics (NASDAQ:LXEO) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $19.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 109.02% from the company’s previous close.

Other analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. Leerink Partners lifted their price objective on Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. HC Wainwright restated a “buy” rating on shares of Lexeo Therapeutics in a report on Monday, November 3rd. Guggenheim assumed coverage on Lexeo Therapeutics in a research note on Wednesday, October 15th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $17.00 price objective on shares of Lexeo Therapeutics in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $18.63.

Lexeo Therapeutics Trading Down 1.0%

Shares of NASDAQ LXEO opened at $9.09 on Thursday. The stock’s 50-day moving average is $7.88 and its 200 day moving average is $5.42. The stock has a market cap of $663.48 million, a price-to-earnings ratio of -3.37 and a beta of 1.75. Lexeo Therapeutics has a 1-year low of $1.45 and a 1-year high of $10.38.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.15. On average, analysts forecast that Lexeo Therapeutics will post -3.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tai Sandi See sold 3,888 shares of Lexeo Therapeutics stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $34,758.72. Following the sale, the insider directly owned 65,862 shares in the company, valued at approximately $588,806.28. This trade represents a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Nolan Townsend sold 13,133 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $8.94, for a total value of $117,409.02. Following the transaction, the chief executive officer directly owned 242,118 shares in the company, valued at $2,164,534.92. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 22,518 shares of company stock worth $201,311. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LXEO. Balyasny Asset Management L.P. bought a new stake in shares of Lexeo Therapeutics during the 2nd quarter valued at about $16,117,000. Frazier Life Sciences Management L.P. lifted its holdings in Lexeo Therapeutics by 363.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock worth $17,787,000 after buying an additional 3,469,210 shares during the period. Affinity Asset Advisors LLC boosted its position in Lexeo Therapeutics by 142.4% during the 2nd quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company’s stock valued at $14,429,000 after acquiring an additional 2,108,474 shares in the last quarter. Vestal Point Capital LP grew its holdings in shares of Lexeo Therapeutics by 184.1% during the 2nd quarter. Vestal Point Capital LP now owns 3,228,161 shares of the company’s stock worth $12,977,000 after acquiring an additional 2,091,912 shares during the period. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Lexeo Therapeutics by 955.7% during the 3rd quarter. ADAR1 Capital Management LLC now owns 1,531,953 shares of the company’s stock worth $10,172,000 after acquiring an additional 1,386,844 shares during the period. 60.67% of the stock is currently owned by institutional investors.

About Lexeo Therapeutics

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.