Lexeo Therapeutics price target lowered to $15 from $23 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Lexeo Therapeutics (LXEO) to $15 from $23 and keeps a Buy rating on the shares. The firm says that while Rocket Pharmaceuticals’ (RCKT) adeno-associated viral vector-based gene therapy RP-A601 adds validation for Lexeo’s LX2020, RP-A601 faces safety challenges that put LX2020 ahead. While efficacy biomarkers are positive, RP-A601 appears to have meaningful safety issues, the analyst tells investors in a research note. H.C. Wainwright cut Lexeo’s price target after accounting for an increase in potentially dilutive securities outstanding.