Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Short Interest Update

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 1,240,000 shares, a drop of 36.1% from the August 15th total of 1,940,000 shares. Based on an average trading volume of 303,700 shares, the short-interest ratio is currently 4.1 days. Approximately 5.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LXEO. Robert W. Baird initiated coverage on shares of Lexeo Therapeutics in a report on Thursday, June 13th. They set an “outperform” rating and a $28.00 price objective for the company. Chardan Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Lexeo Therapeutics in a research note on Wednesday, August 14th. Baird R W upgraded Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday, June 13th. HC Wainwright reduced their target price on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $22.14.

Lexeo Therapeutics Stock Performance

LXEO stock traded down $0.08 during midday trading on Monday, reaching $9.59. The company had a trading volume of 241,792 shares, compared to its average volume of 187,115. The firm has a market capitalization of $315.94 million and a PE ratio of -0.43. The stock has a 50 day moving average price of $12.07 and a 200 day moving average price of $13.79. Lexeo Therapeutics has a fifty-two week low of $9.00 and a fifty-two week high of $22.33. The company has a quick ratio of 9.38, a current ratio of 9.38 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.64). Analysts anticipate that Lexeo Therapeutics will post -2.74 earnings per share for the current year.

Insider Activity

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 26,969 shares of Lexeo Therapeutics stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $16.50, for a total transaction of $444,988.50. Following the sale, the chief executive officer now directly owns 148,726 shares in the company, valued at approximately $2,453,979. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 36,969 shares of company stock worth $555,889 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in Lexeo Therapeutics by 9.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock valued at $39,802,000 after purchasing an additional 210,047 shares during the last quarter. Blackstone Inc. bought a new stake in shares of Lexeo Therapeutics during the fourth quarter valued at approximately $9,342,000. BNP Paribas Financial Markets acquired a new position in shares of Lexeo Therapeutics during the first quarter worth approximately $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics in the 1st quarter worth approximately $79,000. Finally, Vanguard Group Inc. increased its position in Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after acquiring an additional 65,573 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

About Lexeo Therapeutics

Lexeo Therapeutics, Inc operates as a clinical stage genetic medicine company that focuses on hereditary and acquired diseases. The company develops LX2006, which is an AAVrh10-based gene therapy candidate for the treatment of Friedreich's ataxia (FA) cardiomyopathy; LX2020, an AAVrh10-based gene therapy candidate for the treatment of plakophilin-2 arrhythmogenic cardiomyopathy; LX2021, a gene therapy candidate for the treatment of DSP cardiomyopathy associated with it; and LX2022, a gene therapy candidate for the treatment of hypertrophic cardiomyopathy, or HCM caused by TNNI3 gene.