Adage Capital Partners GP L.L.C. decreased its stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 89.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 237,953 shares of the company's stock after selling 1,971,662 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.72% of Lexeo Therapeutics worth $826,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of LXEO. Wells Fargo & Company MN boosted its stake in shares of Lexeo Therapeutics by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock worth $73,000 after buying an additional 3,714 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Lexeo Therapeutics in the fourth quarter worth about $69,000. Northern Trust Corp boosted its stake in shares of Lexeo Therapeutics by 7.1% in the fourth quarter. Northern Trust Corp now owns 214,284 shares of the company's stock worth $1,410,000 after buying an additional 14,185 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Lexeo Therapeutics by 523.1% in the fourth quarter. BNP Paribas Financial Markets now owns 34,527 shares of the company's stock worth $227,000 after buying an additional 28,986 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Lexeo Therapeutics in the fourth quarter worth about $428,000. Hedge funds and other institutional investors own 60.67% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on LXEO shares. JPMorgan Chase & Co. lowered their target price on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Chardan Capital lowered their target price on Lexeo Therapeutics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Oppenheimer initiated coverage on Lexeo Therapeutics in a research report on Thursday, July 31st. They set an "outperform" rating and a $20.00 price target on the stock. Finally, HC Wainwright lowered their price target on Lexeo Therapeutics from $15.00 to $9.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Lexeo Therapeutics has a consensus rating of "Buy" and an average target price of $15.33.
Check Out Our Latest Stock Analysis on Lexeo Therapeutics
Lexeo Therapeutics Stock Performance
LXEO stock remained flat at $5.18 during mid-day trading on Friday. The company's stock had a trading volume of 1,216,665 shares, compared to its average volume of 370,389. The firm has a market capitalization of $279.73 million, a P/E ratio of -1.59 and a beta of 1.36. The firm has a 50-day moving average of $4.62 and a 200 day moving average of $3.74. Lexeo Therapeutics, Inc. has a 52 week low of $1.45 and a 52 week high of $11.72.
Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.04. Analysts predict that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current year.
About Lexeo Therapeutics
(
Free Report)
Lexeo Therapeutics, Inc operates as a clinical stage genetic medicine company that focuses on hereditary and acquired diseases. The company develops LX2006, which is an AAVrh10-based gene therapy candidate for the treatment of Friedreich's ataxia (FA) cardiomyopathy; LX2020, an AAVrh10-based gene therapy candidate for the treatment of plakophilin-2 arrhythmogenic cardiomyopathy; LX2021, a gene therapy candidate for the treatment of DSP cardiomyopathy associated with it; and LX2022, a gene therapy candidate for the treatment of hypertrophic cardiomyopathy, or HCM caused by TNNI3 gene.
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