Insider Selling: Lexeo Therapeutics, Inc. (NASDAQ:LXEO) CEO Sells 4,326 Shares of Stock

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) CEO Richard Nolan Townsend sold 4,326 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $4.41, for a total value of $19,077.66. Following the completion of the sale, the chief executive officer now directly owns 220,119 shares of the company’s stock, valued at $970,724.79. This represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, December 10th, Richard Nolan Townsend sold 2,500 shares of Lexeo Therapeutics stock. The stock was sold at an average price of $8.20, for a total transaction of $20,500.00.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO traded down $0.14 during midday trading on Friday, reaching $3.89. 176,793 shares of the company’s stock were exchanged, compared to its average volume of 256,776. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.95 and a current ratio of 5.95. The company’s 50 day simple moving average is $5.76 and its two-hundred day simple moving average is $8.12. Lexeo Therapeutics, Inc. has a 12 month low of $3.84 and a 12 month high of $19.50. The firm has a market capitalization of $128.64 million, a PE ratio of -1.23 and a beta of 2.99.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. acquired a new stake in Lexeo Therapeutics during the third quarter valued at approximately $11,307,000. Janus Henderson Group PLC lifted its position in shares of Lexeo Therapeutics by 18.9% during the 3rd quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company’s stock worth $33,997,000 after buying an additional 599,203 shares during the period. Altium Capital Management LLC acquired a new stake in Lexeo Therapeutics in the 4th quarter valued at $2,665,000. Point72 Asset Management L.P. grew its position in Lexeo Therapeutics by 102.5% in the fourth quarter. Point72 Asset Management L.P. now owns 750,235 shares of the company’s stock valued at $4,937,000 after acquiring an additional 379,828 shares during the period. Finally, Verition Fund Management LLC grew its position in Lexeo Therapeutics by 84.5% in the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after acquiring an additional 355,928 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LXEO. Chardan Capital raised their price target on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright lifted their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, January 21st. Finally, Leerink Partners reduced their price objective on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lexeo Therapeutics currently has an average rating of “Buy” and a consensus price target of $23.80.

Lexeo Therapeutics Company Profile

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.