Lexeo Therapeutics (NASDAQ:LXEO) Reaches New 12-Month High – What’s Next?

by · The Cerbat Gem

Lexeo Therapeutics, Inc. (NASDAQ:LXEO – Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $10.56 and last traded at $10.1160, with a volume of 562098 shares traded. The stock had previously closed at $9.77.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LXEO shares. Guggenheim began coverage on Lexeo Therapeutics in a report on Wednesday, October 15th. They issued a “buy” rating and a $30.00 price objective on the stock. Cantor Fitzgerald started coverage on shares of Lexeo Therapeutics in a report on Monday, December 1st. They issued an “overweight” rating and a $19.00 price target on the stock. Leerink Partners lifted their price objective on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Oppenheimer reiterated an “outperform” rating and issued a $20.00 price objective on shares of Lexeo Therapeutics in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lexeo Therapeutics in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.63.

Read Our Latest Stock Analysis on Lexeo Therapeutics

Lexeo Therapeutics Price Performance

The stock has a market capitalization of $730.99 million, a PE ratio of -3.71 and a beta of 1.76. The stock’s fifty day moving average is $9.06 and its 200-day moving average is $6.19.

Lexeo Therapeutics (NASDAQ:LXEO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.15. On average, analysts forecast that Lexeo Therapeutics, Inc. will post -3.14 EPS for the current year.

Insider Buying and Selling at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 13,133 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $117,409.02. Following the completion of the sale, the chief executive officer directly owned 242,118 shares in the company, valued at $2,164,534.92. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tai Sandi See sold 3,888 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $34,758.72. Following the transaction, the insider directly owned 65,862 shares of the company’s stock, valued at approximately $588,806.28. The trade was a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,646 shares of company stock valued at $221,037. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Several institutional investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new position in shares of Lexeo Therapeutics during the 2nd quarter worth about $16,117,000. Frazier Life Sciences Management L.P. lifted its position in shares of Lexeo Therapeutics by 363.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock valued at $17,787,000 after acquiring an additional 3,469,210 shares in the last quarter. Affinity Asset Advisors LLC lifted its position in shares of Lexeo Therapeutics by 142.4% in the second quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company’s stock valued at $14,429,000 after acquiring an additional 2,108,474 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Lexeo Therapeutics by 184.1% in the second quarter. Vestal Point Capital LP now owns 3,228,161 shares of the company’s stock worth $12,977,000 after acquiring an additional 2,091,912 shares during the last quarter. Finally, ADAR1 Capital Management LLC increased its position in shares of Lexeo Therapeutics by 955.7% during the third quarter. ADAR1 Capital Management LLC now owns 1,531,953 shares of the company’s stock worth $10,172,000 after purchasing an additional 1,386,844 shares in the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

(Get Free Report)

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 plakophilin-2 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 hypertrophic cardiomyopathy, or HCM caused by TNNI3 gene.

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