Palumbo Wealth Management LLC Invests $226,000 in Lexeo Therapeutics, Inc. $LXEO

Key Points

• Palumbo Wealth Management LLC invested approximately $226,000 in Lexeo Therapeutics, acquiring 56,303 shares of the company's stock, which represents around 0.17% of its total shares.
• Several analysts have varied opinions on Lexeo Therapeutics, with price targets ranging from $9.00 to $20.00; the stock currently holds an average rating of "Buy" with a consensus price target of $15.33.
• Lexeo Therapeutics reported a quarterly earnings results of ($0.60) EPS, which was better than the analysts' consensus estimate of ($0.64), indicating a positive performance despite ongoing challenges.

Palumbo Wealth Management LLC purchased a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,303 shares of the company's stock, valued at approximately $226,000. Palumbo Wealth Management LLC owned approximately 0.17% of Lexeo Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Lexeo Therapeutics by 19.8% in the 1st quarter. Rhumbline Advisers now owns 30,192 shares of the company's stock valued at $105,000 after buying an additional 4,995 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Lexeo Therapeutics by 172.8% during the 4th quarter. Deutsche Bank AG now owns 13,226 shares of the company's stock valued at $87,000 after acquiring an additional 8,378 shares during the last quarter. Privium Fund Management B.V. grew its holdings in shares of Lexeo Therapeutics by 16.0% in the first quarter. Privium Fund Management B.V. now owns 160,198 shares of the company's stock valued at $556,000 after purchasing an additional 22,083 shares during the period. Ground Swell Capital LLC acquired a new stake in Lexeo Therapeutics during the first quarter worth about $80,000. Finally, Acadian Asset Management LLC acquired a new stake in Lexeo Therapeutics during the first quarter worth about $85,000. Hedge funds and other institutional investors own 60.67% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Chardan Capital dropped their price target on shares of Lexeo Therapeutics from $20.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Oppenheimer started coverage on Lexeo Therapeutics in a research report on Thursday, July 31st. They issued an "outperform" rating and a $20.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Lexeo Therapeutics from $16.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Finally, HC Wainwright decreased their price target on Lexeo Therapeutics from $15.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $15.33.

Lexeo Therapeutics Stock Down 0.6%

NASDAQ:LXEO opened at $6.50 on Friday. Lexeo Therapeutics, Inc. has a 52 week low of $1.45 and a 52 week high of $11.72. The stock's fifty day moving average is $4.83 and its two-hundred day moving average is $3.91. The stock has a market capitalization of $351 million, a price-to-earnings ratio of -1.99 and a beta of 1.36.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.64) by $0.04. On average, sell-side analysts expect 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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