Bank of America Corp DE Increases Position in Lexeo Therapeutics, Inc. $LXEO

Key Points

• Bank of America increased its Lexeo Therapeutics stake by 206.7% in the first quarter, reaching 491,532 shares worth approximately $2.82 million. Institutional investors and hedge funds collectively own 60.67% of LXEO.
• Analyst sentiment remains mixed but averages a “Buy” rating, with a consensus price target of $18.75; JPMorgan lowered its target to $9 while Chardan upgraded the stock to “strong buy.”
• LXEO opened at $4.76 and remains near its 52-week low, while the company reported a quarterly loss of $0.30 per share, slightly worse than the $0.29 consensus estimate.

Bank of America Corp DE boosted its holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 206.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 491,532 shares of the company's stock after buying an additional 331,244 shares during the quarter. Bank of America Corp DE owned approximately 0.63% of Lexeo Therapeutics worth $2,821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Lexeo Therapeutics by 27.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,103,584 shares of the company's stock worth $6,332,000 after buying an additional 240,692 shares during the last quarter. Spruce Street Capital LP grew its position in shares of Lexeo Therapeutics by 430.6% in the 1st quarter. Spruce Street Capital LP now owns 928,593 shares of the company's stock valued at $5,330,000 after buying an additional 753,593 shares during the last quarter. Orbimed Advisors LLC raised its stake in Lexeo Therapeutics by 69.5% during the 1st quarter. Orbimed Advisors LLC now owns 3,602,450 shares of the company's stock worth $20,678,000 after acquiring an additional 1,477,450 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in Lexeo Therapeutics by 57.8% during the 1st quarter. Affinity Asset Advisors LLC now owns 5,050,211 shares of the company's stock worth $28,988,000 after acquiring an additional 1,850,211 shares in the last quarter. Finally, Avoro Capital Advisors LLC acquired a new stake in Lexeo Therapeutics during the 4th quarter worth $32,769,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 25,947 shares of Lexeo Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total transaction of $116,242.56. Following the completion of the transaction, the chief executive officer directly owned 377,817 shares in the company, valued at $1,692,620.16. The trade was a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 the 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 owned 82,194 shares in the company, valued at approximately $363,297.48. This trade represents a 21.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 66,326 shares of company stock valued at $299,817. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LXEO has been the topic of a number of research reports. Weiss Ratings upgraded Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th. Wall Street Zen cut shares of Lexeo Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. dropped their price objective on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, June 25th. Finally, Chardan Capital upgraded shares of Lexeo Therapeutics to a "strong-buy" rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Lexeo Therapeutics has an average rating of "Buy" and an average target price of $18.75.

Lexeo Therapeutics Stock Down 2.1%

NASDAQ:LXEO opened at $4.76 on Tuesday. The firm's fifty day simple moving average is $4.74 and its 200-day simple moving average is $5.43. The stock has a market cap of $390.56 million, a PE ratio of -4.14 and a beta of 1.46. Lexeo Therapeutics, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $10.99.

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

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.

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