Hennion & Walsh Asset Management Inc. Invests $1.24 Million in Lexeo Therapeutics, Inc. $LXEO

Key Points

• Hennion & Walsh Asset Management initiated a position of 265,697 Lexeo Therapeutics shares worth approximately $1.24 million, while institutional investors collectively own 60.67% of the company.
• Lexeo shares opened at $4.87, near the lower end of their 52-week range of $3.99 to $10.99. The company reported a quarterly loss of $0.30 per share, slightly missing analyst estimates.
• Analyst sentiment remains generally positive, with a consensus “Buy” rating and an average price target of $18.75, although JPMorgan recently lowered its target to $9.00. Insiders sold shares primarily to cover tax obligations tied to equity-award vesting.

Hennion & Walsh Asset Management Inc. bought a new position in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 265,697 shares of the company's stock, valued at approximately $1,237,000. Hennion & Walsh Asset Management Inc. owned about 0.34% of Lexeo Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. RA Capital Management L.P. bought a new position in shares of Lexeo Therapeutics during the 4th quarter valued at about $49,650,000. Paradigm Biocapital Advisors LP purchased a new stake in shares of Lexeo Therapeutics in the fourth quarter worth about $47,299,000. Balyasny Asset Management L.P. purchased a new stake in shares of Lexeo Therapeutics in the second quarter worth about $16,117,000. Avoro Capital Advisors LLC bought a new position in Lexeo Therapeutics during the fourth quarter valued at approximately $32,769,000. Finally, State Street Corp grew its holdings in Lexeo Therapeutics by 485.1% during the 4th quarter. State Street Corp now owns 3,187,722 shares of the company's stock valued at $31,654,000 after buying an additional 2,642,877 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO opened at $4.87 on Thursday. The stock's fifty day moving average is $4.64 and its 200 day moving average is $5.65. Lexeo Therapeutics, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $10.99. The firm has a market capitalization of $382.39 million, a PE ratio of -3.36 and a beta of 1.46.

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

Insider Activity

In other news, insider Narinder Pal Bhalla sold 22,306 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total value of $98,592.52. Following the completion of 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Nolan Townsend sold 25,947 shares of Lexeo Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total transaction of $116,242.56. Following the transaction, the chief executive officer directly owned 377,817 shares of the company's stock, valued at approximately $1,692,620.16. This represents a 6.43% decrease in their ownership of the stock. 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. Insiders sold a total of 62,204 shares of company stock valued at $280,089 in the last 90 days. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LXEO. Chardan Capital raised Lexeo Therapeutics to a "strong-buy" rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. reduced their price target on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, June 25th. Wall Street Zen raised shares of Lexeo Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings cut shares of Lexeo Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 30th. 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 stock. According to MarketBeat, Lexeo Therapeutics has a consensus rating of "Buy" and an average price target of $18.75.

Lexeo Therapeutics 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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