Montanova Capital LLC grew its position in Lexeo Therapeutics, Inc. (NASDAQ:LXEO – Free Report) by 410.7% during the 2nd quarter, Holdings Channel reports. The fund owned 6,384,200 shares of the company’s stock after buying an additional 5,134,200 shares during the quarter. Montanova Capital LLC owned about 0.08% of Lexeo Therapeutics worth $29,718,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Lexeo Therapeutics in the 2nd quarter valued at approximately $26,717,000. RA Capital Management L.P. purchased a new position in shares of Lexeo Therapeutics during the 4th quarter worth approximately $49,650,000. Paradigm Biocapital Advisors LP acquired a new stake in shares of Lexeo Therapeutics in the 4th quarter valued at approximately $47,299,000. Balyasny Asset Management L.P. acquired a new stake in shares of Lexeo Therapeutics in the 2nd quarter valued at approximately $16,117,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Lexeo Therapeutics in the second quarter valued at approximately $18,409,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.
Lexeo Therapeutics Stock Performance
LXEO opened at $4.76 on Tuesday. The business’s fifty day moving average is $4.74 and its two-hundred day moving average is $5.43. The company has a market cap of $390.56 million, a price-to-earnings ratio of -4.14 and a beta of 1.46. Lexeo Therapeutics, Inc. has a one year low of $3.99 and a one year high of $10.99.
Insider Transactions at Lexeo Therapeutics
In other Lexeo Therapeutics news, insider Narinder Pal Bhalla sold 22,306 shares of Lexeo Therapeutics stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the completion of the transaction, the insider owned 82,194 shares in the company, valued at approximately $363,297.48. The trade was a 21.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Nolan Townsend sold 25,947 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total transaction of $116,242.56. Following the completion of the sale, the chief executive officer directly owned 377,817 shares in the company, valued at $1,692,620.16. This trade represents a 6.43% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 66,326 shares of company stock worth $299,817. 2.00% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Wall Street Zen lowered Lexeo Therapeutics from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings raised Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Chardan Capital upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $18.75.
Read Our Latest Stock Report on Lexeo Therapeutics
About Lexeo Therapeutics
Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.
The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.
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