Lexeo Therapeutics (NASDAQ:LXEO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lexeo Therapeutics (NASDAQ:LXEO) from a strong sell rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. Chardan Capital raised Lexeo Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. reduced their price target on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. 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. Based on data from MarketBeat, Lexeo Therapeutics presently has an average rating of “Buy” and an average price target of $18.75.

Lexeo Therapeutics Stock Down 2.9%

LXEO opened at $4.08 on Friday. The stock has a fifty day moving average of $4.64 and a 200-day moving average of $5.21. The firm has a market capitalization of $334.76 million, a P/E ratio of -3.55 and a beta of 1.50. Lexeo Therapeutics has a 12-month low of $3.99 and a 12-month high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). On average, analysts expect that Lexeo Therapeutics will post -1.18 earnings per share for the current fiscal year.

Insider Transactions at Lexeo Therapeutics

In other Lexeo Therapeutics news, insider Narinder Pal Bhalla sold 22,306 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.42, for a total value of $98,592.52. Following the transaction, the insider owned 82,194 shares in the company, valued at $363,297.48. The trade was a 21.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Townsend sold 25,947 shares of the company’s stock in a transaction dated 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 approximately $1,692,620.16. The trade was a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 66,326 shares of company stock worth $299,817 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LXEO. Avoro Capital Advisors LLC bought a new stake in Lexeo Therapeutics in the fourth quarter worth approximately $32,769,000. Montanova Capital LLC lifted its stake in shares of Lexeo Therapeutics by 410.7% in the 2nd quarter. Montanova Capital LLC now owns 6,384,200 shares of the company’s stock valued at $29,718,000 after purchasing an additional 5,134,200 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in Lexeo Therapeutics by 57.8% in the first quarter. Affinity Asset Advisors LLC now owns 5,050,211 shares of the company’s stock worth $28,988,000 after purchasing an additional 1,850,211 shares in the last quarter. BlackRock Inc. acquired a new position in Lexeo Therapeutics during the second quarter worth $26,717,000. Finally, Frazier Life Sciences Management L.P. increased its position in Lexeo Therapeutics by 9.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 4,824,725 shares of the company’s stock worth $22,459,000 after buying an additional 400,000 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

About Lexeo Therapeutics

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.