Lexeo Therapeutics (NASDAQ:LXEO) Trading 5.4% Higher

Lexeo Therapeutics, Inc. (NASDAQ:LXEO)’s share price traded up 5.4% during mid-day trading on Monday . The stock traded as high as $17.09 and last traded at $16.90. 40,472 shares were traded during trading, a decline of 69% from the average session volume of 130,621 shares. The stock had previously closed at $16.04.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird started coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 13th. They set an “outperform” rating and a $28.00 price objective for the company. HC Wainwright started coverage on shares of Lexeo Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $22.00 price target for the company. Finally, Baird R W upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. Eight equities research 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.com, the company presently has an average rating of “Buy” and an average target price of $22.00.

Lexeo Therapeutics Trading Up 3.4 %

The company’s 50 day moving average price is $15.01 and its 200 day moving average price is $15.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.16 and a quick ratio of 9.16. The firm has a market cap of $546.23 million and a PE ratio of -0.76.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.01). As a group, analysts forecast that Lexeo Therapeutics, Inc. will post -2.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blackstone Inc. purchased a new position in Lexeo Therapeutics in the fourth quarter worth approximately $9,342,000. Omega Fund Management LLC purchased a new position in Lexeo Therapeutics in the fourth quarter worth approximately $28,955,000. Eventide Asset Management LLC purchased a new position in Lexeo Therapeutics in the fourth quarter worth approximately $40,298,000. Vanguard Group Inc. lifted its stake in Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after acquiring an additional 65,573 shares during the last quarter. Finally, American International Group Inc. purchased a new position in Lexeo Therapeutics in the first quarter worth approximately $79,000. Hedge funds and other 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.