Adage Capital Partners GP L.L.C. Sells 388,121 Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Adage Capital Partners GP L.L.C. cut its holdings in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,209,615 shares of the company's stock after selling 388,121 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 6.68% of Lexeo Therapeutics worth $14,539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD purchased a new position in Lexeo Therapeutics in the 4th quarter worth about $69,000. Altium Capital Management LLC purchased a new position in shares of Lexeo Therapeutics in the fourth quarter worth approximately $2,665,000. Marshall Wace LLP acquired a new stake in shares of Lexeo Therapeutics during the fourth quarter valued at approximately $117,000. Jump Financial LLC purchased a new stake in shares of Lexeo Therapeutics in the 4th quarter valued at approximately $134,000. Finally, Walleye Capital LLC purchased a new position in Lexeo Therapeutics during the 4th quarter worth approximately $407,000. 60.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LXEO shares. Leerink Partners decreased their price target on shares of Lexeo Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Monday, March 24th. HC Wainwright reaffirmed a "buy" rating and issued a $23.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, April 8th. Royal Bank of Canada cut their price objective on Lexeo Therapeutics from $24.00 to $20.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Finally, Chardan Capital dropped their target price on Lexeo Therapeutics from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $22.20.

Lexeo Therapeutics Price Performance

Shares of LXEO stock traded up $0.36 during mid-day trading on Wednesday, reaching $3.93. The company's stock had a trading volume of 903,434 shares, compared to its average volume of 426,779. Lexeo Therapeutics, Inc. has a 1-year low of $1.45 and a 1-year high of $19.50. The firm's 50-day moving average is $2.96 and its two-hundred day moving average is $5.50. 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 has a market cap of $130.46 million, a P/E ratio of -1.24 and a beta of 1.52.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its quarterly earnings results on Monday, March 24th. The company reported ($0.78) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.09. On average, research analysts predict that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current year.

Lexeo Therapeutics 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.