ADAR1 Capital Management LLC Acquires Shares of 1,565,950 Lexeo Therapeutics, Inc. $LXEO

Key Points

• ADAR1 Capital Management acquired 1,565,950 Lexeo Therapeutics shares worth approximately $7.3 million, representing a 1.99% stake. Institutional investors collectively own 60.67% of the company.
• Lexeo reported a quarterly loss of $0.30 per share, slightly worse than the $0.29 consensus estimate. Analysts project a full-year loss of $1.18 per share.
• Shares recently traded at $5.13, while analyst sentiment remains broadly positive with a consensus “Buy” rating and an $18.75 target price, despite mixed recommendations and insider sales made to cover tax obligations.

ADAR1 Capital Management LLC bought a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,565,950 shares of the company's stock, valued at approximately $7,289,000. ADAR1 Capital Management LLC owned 1.99% of Lexeo Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Lexeo Therapeutics during the second quarter valued at about $32,000. Allworth Financial LP boosted its position in Lexeo Therapeutics by 1,002.9% during the fourth quarter. Allworth Financial LP now owns 3,386 shares of the company's stock worth $34,000 after purchasing an additional 3,079 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Lexeo Therapeutics by 69.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,547 shares of the company's stock worth $35,000 after purchasing an additional 1,459 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Lexeo Therapeutics in the fourth quarter worth about $37,000. Finally, California State Teachers Retirement System raised its position in shares of Lexeo Therapeutics by 123.7% in the fourth quarter. California State Teachers Retirement System now owns 3,884 shares of the company's stock valued at $39,000 after purchasing an additional 2,148 shares during the period. Hedge funds and other institutional investors own 60.67% of the company's stock.

Insider Buying and Selling at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 25,947 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total value of $116,242.56. Following the sale, the chief executive officer owned 377,817 shares in the company, valued at approximately $1,692,620.16. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Narinder Pal Bhalla sold 22,306 shares of Lexeo Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total value of $98,592.52. Following the sale, the insider directly owned 82,194 shares of the company's stock, valued at $363,297.48. This represents a 21.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 66,326 shares of company stock worth $299,817. Insiders own 2.00% of the company's stock.

Lexeo Therapeutics Trading Up 4.3%

Lexeo Therapeutics stock opened at $5.13 on Wednesday. The firm's 50 day simple moving average is $4.74 and its 200 day simple moving average is $5.50. The firm has a market capitalization of $420.92 million, a PE ratio of -4.46 and a beta of 1.46. Lexeo Therapeutics, Inc. has a 1-year low of $3.99 and a 1-year high of $10.99.

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

Analyst Upgrades and Downgrades

LXEO has been the subject of several analyst reports. Wall Street Zen downgraded shares of Lexeo Therapeutics from a "hold" rating to a "strong sell" rating in a report on Saturday, August 15th. 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. Chardan Capital raised shares of Lexeo Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. dropped their target price on Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, June 25th. Two research 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. According to MarketBeat, Lexeo Therapeutics presently has an average rating of "Buy" and a consensus target price of $18.75.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source