Lexeo Therapeutics (NASDAQ:LXEO) Shares Down 7.8% – What’s Next?

by · The Markets Daily

Lexeo Therapeutics, Inc. (NASDAQ:LXEO – Get Free Report)’s share price fell 7.8% during mid-day trading on Monday . The company traded as low as $9.05 and last traded at $9.0950. 342,885 shares traded hands during trading, a decline of 57% from the average session volume of 788,654 shares. The stock had previously closed at $9.86.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LXEO shares. Chardan Capital reissued a “buy” rating and set a $17.00 target price on shares of Lexeo Therapeutics in a research report on Wednesday, November 5th. Wall Street Zen raised Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexeo Therapeutics in a research report on Wednesday, October 8th. Leerink Partners raised their price target on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Finally, Guggenheim started coverage on shares of Lexeo Therapeutics in a research report on Wednesday, October 15th. They issued a “buy” rating and a $30.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.63.

View Our Latest Research Report on Lexeo Therapeutics

Lexeo Therapeutics Stock Down 9.5%

The company has a market capitalization of $651.07 million, a PE ratio of -3.30 and a beta of 1.76. The business has a 50 day simple moving average of $8.48 and a 200 day simple moving average of $5.75.

Lexeo Therapeutics (NASDAQ:LXEO – Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.15. Equities analysts expect that Lexeo Therapeutics, Inc. will post -3.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 13,133 shares of the stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $117,409.02. Following the completion of the sale, the chief executive officer directly owned 242,118 shares of the company’s stock, valued at approximately $2,164,534.92. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Adler sold 3,382 shares of the company’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $30,235.08. Following the transaction, the insider directly owned 73,261 shares in the company, valued at $654,953.34. This represents a 4.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,646 shares of company stock worth $221,037 in the last quarter. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

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