Brokerages Set Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Target Price at $18.75

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) has been given an average rating of “Buy” by the nine analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.75.

Several equities analysts recently commented on LXEO shares. Weiss Ratings upgraded Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Wall Street Zen cut Lexeo Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. cut their price target on Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, June 25th. Finally, Chardan Capital raised Lexeo Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th.

Lexeo Therapeutics Stock Down 2.7%

LXEO opened at $4.36 on Friday. The stock has a market cap of $357.74 million, a price-to-earnings ratio of -3.79 and a beta of 1.50. Lexeo Therapeutics has a twelve month low of $3.99 and a twelve month high of $10.99. The company’s 50-day moving average price is $4.73 and its two-hundred day moving average price is $5.34.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). As a group, sell-side analysts anticipate that Lexeo Therapeutics will post -1.18 earnings per share for the current year.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Townsend sold 25,947 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total value of $116,242.56. Following the sale, the chief executive officer owned 377,817 shares of the company’s stock, valued at $1,692,620.16. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Narinder Pal Bhalla sold 22,306 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the sale, the insider owned 82,194 shares in the company, valued at $363,297.48. The trade was a 21.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 66,326 shares of company stock valued at $299,817 in the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Lexeo Therapeutics in the 2nd quarter worth about $26,717,000. Montanova Capital LLC lifted its position in Lexeo Therapeutics by 410.7% during the second quarter. Montanova Capital LLC now owns 6,384,200 shares of the company’s stock valued at $29,718,000 after purchasing an additional 5,134,200 shares during the last quarter. RA Capital Management L.P. purchased a new stake in shares of Lexeo Therapeutics during the 4th quarter valued at $49,650,000. Paradigm Biocapital Advisors LP bought a new stake in shares of Lexeo Therapeutics during the 4th quarter worth $47,299,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Lexeo Therapeutics during the 2nd quarter worth $16,117,000. 60.67% of the stock is owned by institutional investors.

About Lexeo Therapeutics

Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.