JPMorgan Chase & Co. Has Lowered Expectations for Lexeo Therapeutics (NASDAQ:LXEO) Stock Price

Lexeo Therapeutics (NASDAQ:LXEO) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $12.00 to $9.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 87.42% from the stock’s current price.

LXEO has been the subject of a number of other reports. Wall Street Zen raised shares of Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, June 11th. Finally, Chardan Capital reissued a “buy” rating and issued a $17.00 price target on shares of Lexeo Therapeutics in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lexeo Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $18.75.

Lexeo Therapeutics Stock Down 1.8%

LXEO stock traded down $0.09 during midday trading on Thursday, reaching $4.80. 104,790 shares of the company’s stock traded hands, compared to its average volume of 931,649. The company has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $6.80. Lexeo Therapeutics has a 1-year low of $3.60 and a 1-year high of $10.99. The company has a market cap of $377.05 million, a price-to-earnings ratio of -3.31 and a beta of 1.38.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. Equities research analysts forecast that Lexeo Therapeutics will post -1.23 EPS for the current year.

Insider Buying and Selling at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 55,000 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $5.69, for a total value of $312,950.00. Following the sale, the chief executive officer directly owned 340,106 shares in the company, valued at $1,935,203.14. This trade represents a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 59,644 shares of company stock valued at $336,462. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several institutional investors have recently modified their holdings of the business. Affinity Asset Advisors LLC boosted its holdings in shares of Lexeo Therapeutics by 57.8% in the first quarter. Affinity Asset Advisors LLC now owns 5,050,211 shares of the company’s stock valued at $28,988,000 after buying an additional 1,850,211 shares during the period. RA Capital Management L.P. acquired a new stake in shares of Lexeo Therapeutics during the fourth quarter worth $49,650,000. Paradigm Biocapital Advisors LP bought a new stake in Lexeo Therapeutics in the 4th quarter valued at $47,299,000. Vestal Point Capital LP lifted its position in Lexeo Therapeutics by 37.7% in the 4th quarter. Vestal Point Capital LP now owns 4,475,000 shares of the company’s stock valued at $44,437,000 after acquiring an additional 1,225,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Lexeo Therapeutics in the 2nd quarter worth $16,117,000. Institutional investors own 60.67% of the company’s stock.

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.