Lexeo Therapeutics, Inc. (LXEO) AI Stock Analysis

• Market Cap: $530.62M
• Dividend Yield: N/A
• Average Volume (3M): 1.01M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.02
• Revenue Growth: N/A
• EPS Growth: 4.97%
• Country: US
• Employees: 75
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.33
• Shares Outstanding: 72,987,330
• 10 Day Avg. Volume: 781,379
• 30 Day Avg. Volume: 1,014,164
• PEG Ratio: -0.09
• Price to Book (P/B): 1.79
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.56
• Enterprise Value/Market Cap: 0.89
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -305.22
• Enterprise Value/Ebitda: -4.58
• 1Y Price Target: $18.00
• Price Target Upside: 161.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -1.52
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $7.50 ▲(8.85% Upside)

The score is held down primarily by weak financial performance (pre-revenue, widening losses, and heavy ongoing cash burn) and bearish technical signals (below key moving averages with negative MACD). Valuation provides limited support given the negative P/E and lack of dividend data.

Positive Factors

Positive Phase I/II Proof‑of‑Concept

Positive interim HEROIC‑PKP2 data provide durable technical validation of Lexeo’s AAV cardiomyopathy approach: robust, dose‑dependent transduction and clinical stabilization reduce biological risk for LX2020, strengthen the program’s regulatory and partnership optionality and support longer‑term pipeline value creation.

Strategic Collaboration on Cardiac Delivery

A collaboration with J&J to concentrate AAV delivery using Impella technology addresses a structural limitation of systemic AAV dosing. Improved local delivery could materially lower required doses, enhance safety and efficacy, and make Lexeo’s cardiac programs more attractive to regulators and commercial partners over the next several quarters.

Conservative Capital Structure

Low leverage and meaningful equity provide a durable financial cushion versus many early‑stage biotechs. This conservative capital structure reduces near‑term insolvency risk, gives management optionality to advance trials or structure partnerships, and supports continuing R&D over the medium term if cash burn is managed.

Negative Factors

High and Worsening Cash Burn

Very large, worsening operating and free cash outflows are a persistent structural risk for a clinical‑stage biotech. Sustained negative cash generation will require recurring financing or partnerships, increasing dilution risk and potentially forcing project prioritization that can slow pipeline progress over multiple quarters.

Pre‑Revenue Business Model

Lexeo’s lack of product revenue means core operations rely on external financing and milestone/partner payments. That structural dependence raises execution risk: future trial timelines or partner decisions directly impact funding and program continuity across the next 2–6 months and beyond.

Negative Returns on Equity / Deteriorating Profitability

Deep negative ROE and widening net losses reflect poor capital efficiency and rising resource consumption to fund R&D. This persistent unprofitability constrains reinvestment capacity and increases reliance on capital markets or partners, pressuring strategic flexibility over the medium term.

Lexeo Therapeutics, Inc. Business Overview & Revenue Model

Company Description

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 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 HCM caused by TNNI3 mutations. It also develops LX1001, an AAVrh10-based gene therapy candidate for the treatment of APOE4 homozygous; LX1020, a gene therapy candidate for the treatment of APOE4 homozygous; LX1021 for the treatment of APOE4 homozygotes; and LX1004 for the treatment of CLN2 Batten disease. The company was incorporated in 2017 and is based in New York, New York.

How the Company Makes Money

Lexeo Therapeutics, Inc. generates revenue primarily through the development and commercialization of its gene therapy products. The company may earn income from licensing agreements, research and development collaborations, and partnerships with pharmaceutical companies. Additionally, Lexeo may receive funding through grants, government contracts, or milestone payments related to the clinical progression and commercialization of its therapies. Strategic alliances and partnerships with larger pharmaceutical companies could also contribute to Lexeo's revenue stream, providing access to broader distribution networks and additional resources for product development.

Lexeo Therapeutics, Inc. Financial Statement Overview

Summary

Pre-revenue with widening losses (TTM net loss ~$105.0M vs. ~$66.4M in 2023) and very large, worsening cash burn (TTM operating cash flow about -$106.8M; free cash flow about -$107.2M). The main support is a relatively conservative balance sheet with low leverage (debt-to-equity ~0.06) and meaningful equity, but sustained burn raises future funding risk.

Income Statement

The company remains pre-revenue (TTM (Trailing-Twelve-Months) and 2023–2024 show $0 revenue), with losses widening over time (net loss of ~$105.0M in TTM (Trailing-Twelve-Months) vs. ~$66.4M in 2023). Profitability is deeply negative and deteriorating, consistent with heavy R&D and operating spend. While this is typical for early-stage biotech, the current trajectory points to rising burn without offsetting revenue scale yet.

Balance Sheet

Leverage is low, with modest debt relative to equity (debt-to-equity ~0.06 in TTM (Trailing-Twelve-Months), improving from ~0.10 in 2023), which reduces financial risk. Equity is positive and sizeable in 2023–TTM (Trailing-Twelve-Months) (~$120.8M TTM (Trailing-Twelve-Months)), though the business is still generating large losses, driving strongly negative returns on equity (about -0.95 TTM (Trailing-Twelve-Months)). Overall, the capital structure looks conservative, but ongoing losses could pressure the balance sheet over time.

Cash Flow

Cash generation is the key weakness: operating cash flow is sharply negative and has worsened (about -$106.8M TTM (Trailing-Twelve-Months) vs. -$59.5M in 2023). Free cash flow is similarly negative (about -$107.2M TTM (Trailing-Twelve-Months)), indicating sustained cash burn to fund operations. A positive TTM (Trailing-Twelve-Months) free cash flow growth figure appears to reflect a change in the loss profile rather than true cash flow strength, since absolute cash burn remains very large.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	654.00K	1.66M	518.48K
Gross Profit	-1.54M	0.00	0.00	654.00K	1.66M	518.48K
EBITDA	-102.75M	-96.19M	-64.35M	-58.04M	-50.61M	-4.59M
Net Income	-104.97M	-98.33M	-66.39M	-59.28M	-50.62M	-5.15M
Balance Sheet
Total Assets	143.84M	146.94M	139.81M	97.08M	136.86M	29.41M
Cash, Cash Equivalents and Short-Term Investments	41.00M	121.52M	121.47M	77.33M	135.86M	29.37M
Total Debt	8.46M	9.92M	11.64M	13.48M	0.00	0.00
Total Liabilities	23.01M	30.10M	26.27M	210.03M	192.46M	34.95M
Stockholders Equity	120.83M	116.84M	113.53M	-112.95M	-55.60M	-5.54M
Cash Flow
Free Cash Flow	-107.19M	-81.63M	-59.66M	-55.46M	-44.37M	-3.13M
Operating Cash Flow	-106.81M	-81.15M	-59.50M	-54.56M	-44.18M	-3.13M
Investing Cash Flow	-82.15M	-94.08M	-165.00K	-901.00K	-188.00K	0.00
Financing Cash Flow	72.93M	88.78M	103.79M	189.00K	150.86M	32.38M

Lexeo Therapeutics, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.89
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LXEO, the sentiment is Negative. The current price of 6.89 is below the 20-day moving average (MA) of 7.73, below the 50-day MA of 8.91, and above the 200-day MA of 6.28, indicating a neutral trend. The MACD of -0.51 indicates Positive momentum. The RSI at 34.44 is Neutral, neither overbought nor oversold. The STOCH value of 32.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LXEO.

Lexeo Therapeutics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CAPR	57 Neutral	$1.33B	―	-107.79%	―	-52.08%	-69.35%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DMAC	49 Neutral	$411.41M	-10.51	-64.12%	―	―	-29.73%
BNTC	48 Neutral	$420.23M	-11.59	-43.71%	―	―	80.95%
LXEO	46 Neutral	$530.62M	-2.55	-80.69%	―	―	4.97%
TVRD	46 Neutral	$36.21M	-0.36	-97.61%	―	-53.67%	86.75%
LRMR	45 Neutral	$280.74M	-1.59	-78.24%	―	―	-67.41%

Lexeo Therapeutics, Inc. Corporate Events

Lexeo Therapeutics Announces Key Executive Leadership Changes

On January 27, 2026, Lexeo Therapeutics, Inc. announced that its Board of Directors appointed its current Chief Technical Officer, Jose Manuel Otero, Ph.D., as Chief Operating Officer, effective January 2, 2026, with an updated annual base salary of $510,000 and confirmation that there are no related-party arrangements or conflicts of interest associated with his promotion. The company also reported a leadership transition in its medical organization, with the Board appointing Narinder P. Bhalla, M.D., as Chief Medical Officer effective January 20, 2026, succeeding Eric Adler, M.D., who will become President and Chief Executive Officer of Myoventive, Inc., while stepping down as a Lexeo executive officer as of January 27, 2026 but continuing to serve the company as a senior clinical and scientific advisor, signaling continuity in scientific leadership amid broader expansion in the cardiac precision medicines space.

The most recent analyst rating on (LXEO) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on Lexeo Therapeutics, Inc. stock, see the LXEO Stock Forecast page.

Lexeo Therapeutics Reports Positive Interim HEROIC-PKP2 Trial Results

On January 12, 2026, Lexeo Therapeutics reported positive interim Phase I/II data from its HEROIC-PKP2 trial evaluating LX2020, an AAV-based gene therapy for PKP2-associated arrhythmogenic cardiomyopathy, showing the treatment was generally well tolerated in ten dosed participants with no clinically significant complement activation and no study discontinuations. Cardiac biopsies from seven participants demonstrated robust, dose-dependent PKP2 transduction and expression, with mean PKP2 protein levels rising 93% in the low-dose cohort and 162% in the high-dose cohorts, and clinical measures in eight participants with at least six months of follow-up indicated stabilization or improvement in arrhythmia burden, including reductions in non-sustained ventricular tachycardia and premature ventricular contractions, alongside stable cardiac function and improved patient-reported outcomes at higher doses. Enrollment in HEROIC-PKP2 was completed in the fourth quarter of 2025, with additional biopsy data and 12‑month outcomes from high-dose participants expected in 2026, positioning LX2020 as a potentially important new therapy candidate in a genetically driven cardiomyopathy segment with significant unmet need and reinforcing Lexeo’s strategic focus on gene therapy for cardiovascular disease.

The most recent analyst rating on (LXEO) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Lexeo Therapeutics, Inc. stock, see the LXEO Stock Forecast page.