Lexeo Therapeutics (NASDAQ:LXEO) Issues Quarterly Earnings Results, Meets Estimates

Lexeo Therapeutics (NASDAQ:LXEO) posted its quarterly earnings results on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.30), FiscalAI reports.

Lexeo Therapeutics Price Performance

Shares of LXEO traded up $0.20 during mid-day trading on Wednesday, hitting $4.98. The stock had a trading volume of 976,471 shares, compared to its average volume of 950,869. Lexeo Therapeutics has a 52 week low of $3.99 and a 52 week high of $10.99. The firm has a market cap of $391.04 million, a P/E ratio of -3.43 and a beta of 1.46. The business has a fifty day moving average price of $4.63 and a 200-day moving average price of $5.67.

Analysts Set New Price Targets

A number of brokerages have recently commented on LXEO. JPMorgan Chase & Co. cut their price objective on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, June 25th. Wall Street Zen raised Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Chardan Capital upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Lexeo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 30th. Two investment 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.75.

Insider Activity

In related news, insider Narinder Pal Bhalla sold 22,306 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.42, for a total transaction of $98,592.52. Following the completion of the sale, the insider directly owned 82,194 shares in the company, valued at $363,297.48. This represents a 21.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 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 value of $116,242.56. Following the completion of the transaction, 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 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 quarter, insiders sold 62,204 shares of company stock worth $280,089. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

A number of institutional investors have recently modified their holdings of the company. RA Capital Management L.P. purchased a new stake in Lexeo Therapeutics in the 4th quarter worth approximately $49,650,000. Paradigm Biocapital Advisors LP bought a new stake in shares of Lexeo Therapeutics during the fourth quarter valued at approximately $47,299,000. Vestal Point Capital LP lifted its holdings in shares of Lexeo Therapeutics by 37.7% during the fourth quarter. Vestal Point Capital LP now owns 4,475,000 shares of the company’s stock valued at $44,437,000 after purchasing an additional 1,225,000 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Lexeo Therapeutics in the 2nd quarter worth approximately $16,117,000. Finally, Citadel Advisors LLC grew its stake in Lexeo Therapeutics by 3.1% during the third quarter. Citadel Advisors LLC now owns 3,719,043 shares of the company’s stock valued at $24,694,000 after acquiring an additional 111,076 shares in the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.