Insider Selling: Lexeo Therapeutics (NASDAQ:LXEO) CEO Sells 25,947 Shares of Stock

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) CEO Richard Nolan Townsend sold 25,947 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total value of $116,242.56. Following the completion of the sale, the chief executive officer owned 377,817 shares in the company, valued at $1,692,620.16. This represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Richard Nolan Townsend also recently made the following trade(s):

• On Monday, May 18th, Richard Nolan Townsend sold 3,342 shares of Lexeo Therapeutics stock. The shares were sold at an average price of $5.06, for a total transaction of $16,910.52.
• On Monday, April 6th, Richard Nolan Townsend sold 55,000 shares of Lexeo Therapeutics stock. The shares were sold at an average price of $5.69, for a total value of $312,950.00.

Lexeo Therapeutics Price Performance

LXEO stock traded down $0.21 during mid-day trading on Wednesday, reaching $4.45. 852,557 shares of the company traded hands, compared to its average volume of 948,339. The company has a fifty day moving average price of $5.16 and a 200-day moving average price of $6.67. Lexeo Therapeutics, Inc. has a 52-week low of $3.60 and a 52-week high of $10.99. The company has a market capitalization of $349.41 million, a P/E ratio of -3.07 and a beta of 1.38.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. As a group, analysts forecast that Lexeo Therapeutics, Inc. will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Lexeo Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its position in Lexeo Therapeutics by 1,002.9% during the 4th quarter. Allworth Financial LP now owns 3,386 shares of the company’s stock worth $34,000 after acquiring an additional 3,079 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Lexeo Therapeutics by 69.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,547 shares of the company’s stock valued at $35,000 after purchasing an additional 1,459 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Lexeo Therapeutics during the fourth quarter valued at approximately $37,000. California State Teachers Retirement System boosted its stake in shares of Lexeo Therapeutics by 123.7% during the fourth quarter. California State Teachers Retirement System now owns 3,884 shares of the company’s stock valued at $39,000 after purchasing an additional 2,148 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Lexeo Therapeutics by 160.2% in the fourth quarter. Russell Investments Group Ltd. now owns 5,872 shares of the company’s stock worth $58,000 after purchasing an additional 3,615 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LXEO. JPMorgan Chase & Co. decreased their price objective on Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, June 25th. Chardan Capital reaffirmed a “buy” rating and issued a $17.00 target price on shares of Lexeo Therapeutics in a research note on Monday, May 11th. Weiss Ratings cut shares of Lexeo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen raised shares of Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Lexeo Therapeutics Company Profile

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.