490,331 Shares of Lexeo Therapeutics, Inc. $LXEO Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 490,331 shares of Lexeo Therapeutics in the second quarter, valued at approximately $2.28 million and representing about 0.60% of the company. Institutional investors collectively own 60.67% of Lexeo.
• Lexeo shares opened at $3.38, well below their 50-day and 200-day moving averages of $4.47 and $5.03, respectively. The company reported a quarterly loss of $0.30 per share, missing analysts’ estimate by $0.01.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $18.12, despite recent target-price reductions and Lexeo’s ongoing clinical-stage gene-therapy risks.

Bank of America Corp DE purchased a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 490,331 shares of the company's stock, valued at approximately $2,282,000. Bank of America Corp DE owned approximately 0.60% of Lexeo Therapeutics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Lexeo Therapeutics during the fourth quarter worth $37,000. Legal & General Group Plc acquired a new stake in shares of Lexeo Therapeutics in the second quarter worth about $32,000. ProShare Advisors LLC bought a new stake in shares of Lexeo Therapeutics during the 4th quarter worth about $146,000. Canada Pension Plan Investment Board bought a new stake in shares of Lexeo Therapeutics during the 2nd quarter worth about $86,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Lexeo Therapeutics during the 2nd quarter worth about $92,000. Institutional investors own 60.67% of the company's stock.

Lexeo Therapeutics Stock Down 1.2%

LXEO opened at $3.38 on Thursday. The stock's 50 day moving average price is $4.47 and its two-hundred day moving average price is $5.03. The firm has a market capitalization of $277.33 million, a P/E ratio of -2.94 and a beta of 1.50. Lexeo Therapeutics, Inc. has a 12-month low of $2.98 and a 12-month high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.01). As a group, analysts anticipate that Lexeo Therapeutics, Inc. will post -1.18 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on LXEO. Leerink Partners reissued an "outperform" rating and issued a $15.00 price objective on shares of Lexeo Therapeutics in a research note on Wednesday, September 23rd. JPMorgan Chase & Co. decreased their target price on Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, June 25th. Chardan Capital upgraded Lexeo Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Lexeo Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings upgraded shares of Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $18.12.

Lexeo Therapeutics Company Profile

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.

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