Spruce Street Capital LP Acquires 753,593 Shares of Lexeo Therapeutics, Inc. $LXEO

Key Points

• Spruce Street Capital LP increased its Lexeo Therapeutics stake by 430.6% in the first quarter, buying 753,593 additional shares and bringing its total holding to 928,593 shares worth about $5.33 million.
• Several other institutional investors also hold large positions in LXEO, and institutions collectively own 60.67% of the company’s stock.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and a price target of $18.75, even as the stock recently traded around $4.66 and insiders made recent sales tied to tax withholding obligations.

Spruce Street Capital LP raised its stake in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 430.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 928,593 shares of the company's stock after buying an additional 753,593 shares during the quarter. Lexeo Therapeutics comprises approximately 1.3% of Spruce Street Capital LP's holdings, making the stock its 24th largest position. Spruce Street Capital LP owned about 1.18% of Lexeo Therapeutics worth $5,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LXEO. RA Capital Management L.P. purchased a new position in shares of Lexeo Therapeutics during the fourth 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. Vestal Point Capital LP boosted its stake in Lexeo Therapeutics by 37.7% during the fourth quarter. Vestal Point Capital LP now owns 4,475,000 shares of the company's stock valued at $44,437,000 after buying an additional 1,225,000 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Lexeo Therapeutics during the 2nd quarter valued at approximately $16,117,000. Finally, Citadel Advisors LLC grew its holdings in Lexeo Therapeutics by 3.1% during the 3rd quarter. Citadel Advisors LLC now owns 3,719,043 shares of the company's stock valued at $24,694,000 after buying an additional 111,076 shares in the last quarter. Institutional investors own 60.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, June 25th. Weiss Ratings raised shares of Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 10th. Chardan Capital reiterated a "buy" rating and issued a $17.00 price target on shares of Lexeo Therapeutics in a research report on Monday, May 11th. Finally, Wall Street Zen raised Lexeo Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Lexeo Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.75.

Insider Buying and Selling at Lexeo Therapeutics

In related news, insider Narinder Pal Bhalla sold 22,306 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.42, for a total transaction of $98,592.52. Following the sale, the insider owned 82,194 shares of the company's stock, valued at $363,297.48. This trade represents a 21.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total value of $116,242.56. Following the transaction, the chief executive officer owned 377,817 shares in the company, valued at approximately $1,692,620.16. This trade 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 have sold a total of 62,204 shares of company stock worth $280,089 in the last ninety days. Insiders own 2.00% of the company's stock.

Lexeo Therapeutics Stock Down 1.1%

Shares of Lexeo Therapeutics stock opened at $4.66 on Friday. The stock's fifty day moving average is $4.75 and its two-hundred day moving average is $6.02. The company has a market capitalization of $365.91 million, a PE ratio of -3.21 and a beta of 1.42. Lexeo Therapeutics, Inc. has a 52 week low of $3.60 and a 52 week high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. As a group, research analysts anticipate that Lexeo Therapeutics, Inc. will post -1.21 earnings per share for the current 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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