Frazier Life Sciences Management L.P. Grows Stock Holdings in Lexeo Therapeutics, Inc. $LXEO

Key Points

• Frazier Life Sciences Management increased its Lexeo Therapeutics stake by 9% in the second quarter, adding 400,000 shares to own 4.82 million shares, or 5.88% of the company. Institutional investors collectively own 60.67% of LXEO.
• Analyst sentiment remains generally positive, with an average rating of “Buy” and a consensus price target of $18.75, although JPMorgan lowered its target to $9 and some firms issued bearish ratings.
• Lexeo reported a quarterly loss of $0.30 per share, slightly worse than the $0.29 consensus estimate. The stock opened at $4.89, near its 52-week low of $3.99 and well below its 52-week high of $10.99.

Frazier Life Sciences Management L.P. boosted its stake in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,824,725 shares of the company's stock after buying an additional 400,000 shares during the quarter. Frazier Life Sciences Management L.P. owned 5.88% of Lexeo Therapeutics worth $22,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Montanova Capital LLC lifted its position in shares of Lexeo Therapeutics by 410.7% during the 2nd quarter. Montanova Capital LLC now owns 6,384,200 shares of the company's stock valued at $29,718,000 after acquiring an additional 5,134,200 shares during the period. Wellington Management Group LLP boosted its position in Lexeo Therapeutics by 17.2% during the second quarter. Wellington Management Group LLP now owns 202,383 shares of the company's stock worth $942,000 after purchasing an additional 29,680 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in Lexeo Therapeutics in the second quarter valued at $6,051,500. Avoro Capital Advisors LLC acquired a new stake in Lexeo Therapeutics in the second quarter valued at $6,932,175. Finally, Bank of America Corp DE purchased a new position in shares of Lexeo Therapeutics in the second quarter valued at $2,282,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Lexeo Therapeutics news, CEO Richard Townsend sold 25,947 shares of the company's 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 sale, the chief executive officer owned 377,817 shares in the company, valued at $1,692,620.16. This represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 that occurred on Wednesday, July 1st. The stock was sold at an average price of $4.42, for a total value of $98,592.52. Following the completion of the transaction, the insider owned 82,194 shares of the company's stock, valued at approximately $363,297.48. The trade was a 21.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 66,326 shares of company stock worth $299,817 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Lexeo Therapeutics Price Performance

Shares of LXEO opened at $4.89 on Monday. The firm has a market cap of $401.22 million, a price-to-earnings ratio of -4.25 and a beta of 1.50. The business's 50 day moving average is $4.74 and its two-hundred day moving average is $5.39. Lexeo Therapeutics, Inc. has a 52-week low of $3.99 and a 52-week high of $10.99.

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