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Stock impact report

Lexeo Therapeutics (LXEO) Gets a PT Cut to $13 by H.C. Wainwright Due to Equity Raise [Yahoo! Finance]

Lexeo Therapeutics, Inc. (LXEO) 
Company Research Source: Yahoo! Finance
Wainwright lowered the firm's price target on Lexeo Therapeutics to $13 from $15 and kept a Buy rating on the shares. The price cut was made as the firm pointed out the share dilution from the most recent equity raise. Earlier on October 17, Leerink analyst Mani Foroohar also lowered the firm's price target on Lexeo Therapeutics to $18 from $20 with an Outperform rating on the shares. Leerink noted the company's announcement of a secondary offering and a concurrent private placement, which together are expected to generate gross proceeds of $135 million. Lexeo Therapeutics (LXEO) Gets a PT Cut to $13 by H.C. Wainwright Due to Equity Raise The financing was announced alongside additional data for the company's compound, LX2020 PKP2. Leerink commented that strengthening the balance sheet before starting the pivotal trial for FACM and releasing further PKP2 data is a logical step. The firm believes that this action shifts the focus to Lexeo's data, rather than concerns about the co Show less Read more
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