Lexeo Therapeutics, Inc. $LXEO Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 89.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,953 shares of the company's stock after selling 1,971,662 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.72% of Lexeo Therapeutics worth $826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LXEO. Wells Fargo & Company MN raised its stake in Lexeo Therapeutics by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 11,156 shares of the company's stock valued at $73,000 after buying an additional 3,714 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Lexeo Therapeutics in the fourth quarter valued at $69,000. Northern Trust Corp raised its stake in Lexeo Therapeutics by 7.1% in the fourth quarter. Northern Trust Corp now owns 214,284 shares of the company's stock valued at $1,410,000 after buying an additional 14,185 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Lexeo Therapeutics by 523.1% in the fourth quarter. BNP Paribas Financial Markets now owns 34,527 shares of the company's stock valued at $227,000 after buying an additional 28,986 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Lexeo Therapeutics in the fourth quarter valued at $428,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer assumed coverage on Lexeo Therapeutics in a research note on Thursday, July 31st. They issued an "outperform" rating and a $20.00 price target on the stock. Chardan Capital cut their price target 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. HC Wainwright cut their target price 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. Finally, JPMorgan Chase & Co. cut their target price on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $15.33.

Lexeo Therapeutics Trading Up 4.6%

Shares of LXEO opened at $5.25 on Tuesday. The firm has a market cap of $283.50 million, a PE ratio of -1.61 and a beta of 1.36. The company's 50 day simple moving average is $4.55 and its 200-day simple moving average is $3.69. Lexeo Therapeutics, Inc. has a 12-month low of $1.45 and a 12-month high of $11.72.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.64) by $0.04. As a group, equities research analysts forecast that Lexeo Therapeutics, Inc. will post -3.14 EPS for the current fiscal year.

About Lexeo Therapeutics

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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