Lexeo Therapeutics initiated with an Outperform at Baird

Baird analyst Brian Skorney initiated coverage of Lexeo Therapeutics with an Outperform rating and $28 price target. Lexeo is bringing a precision medicine approach to rare cardiac diseases and Alzheimer’s with its AAVrh10-based gene therapies, the analyst tells investors in a research note. The firm thinks the company is well positioned to capitalize on innovations in genetics, a favorable regulatory environment for rare disease, and a differentiated AAV vector.