Leerink Partners reaffirmed their outperform rating on shares of Lexeo Therapeutics (NASDAQ:LXEO – Free Report) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $15.00 target price on the stock.
Several other research analysts also recently commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Lexeo Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, June 25th. Wall Street Zen upgraded shares of Lexeo Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 19th. Weiss Ratings raised shares of Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Finally, Chardan Capital upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.12.
Check Out Our Latest Report on Lexeo Therapeutics
Lexeo Therapeutics Price Performance
Lexeo Therapeutics (NASDAQ:LXEO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). Equities analysts expect that Lexeo Therapeutics will post -1.18 EPS for the current fiscal year.
Insider Activity at Lexeo Therapeutics
In other news, CEO Richard Townsend sold 25,947 shares of Lexeo Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total transaction of $116,242.56. Following the sale, the chief executive officer owned 377,817 shares of the company’s stock, valued at approximately $1,692,620.16. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Narinder Pal Bhalla sold 22,306 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total value of $98,592.52. Following the sale, the insider owned 82,194 shares in the company, valued at approximately $363,297.48. This represents a 21.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 66,326 shares of company stock valued at $299,817. Insiders own 2.00% of the company’s stock.
Institutional Investors Weigh In On Lexeo Therapeutics
A number of institutional investors have recently bought and sold shares of the business. Spark Investment Management LLC bought a new stake in Lexeo Therapeutics in the 2nd quarter valued at $70,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of Lexeo Therapeutics by 9.0% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,824,725 shares of the company’s stock worth $22,459,000 after acquiring an additional 400,000 shares during the period. Montanova Capital LLC lifted its holdings in shares of Lexeo Therapeutics by 410.7% during the 2nd quarter. Montanova Capital LLC now owns 6,384,200 shares of the company’s stock worth $29,718,000 after acquiring an additional 5,134,200 shares during the period. Wellington Management Group LLP boosted its position in shares of Lexeo Therapeutics by 17.2% during the 2nd quarter. Wellington Management Group LLP now owns 202,383 shares of the company’s stock valued at $942,000 after acquiring an additional 29,680 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Lexeo Therapeutics during the 2nd quarter valued at about $6,051,500. Institutional investors and hedge funds own 60.67% of the company’s stock.
Lexeo Therapeutics Company Profile
Lexeo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for genetic and acquired diseases. The company uses adeno-associated virus (AAV) delivery technology to introduce genetic material intended to address underlying disease mechanisms, with programs spanning central nervous system and cardiovascular conditions.
Lexeo’s development portfolio includes investigational therapies for APOE4-associated Alzheimer’s disease, Friedreich’s ataxia, and inherited cardiac disorders such as LMNA-related dilated cardiomyopathy and arrhythmogenic right ventricular cardiomyopathy.
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