Spruce Street Capital LP Invests $4.32 Million in Lexeo Therapeutics, Inc. $LXEO

Spruce Street Capital LP purchased a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 928,593 shares of the company's stock, valued at approximately $4,322,600. Lexeo Therapeutics comprises approximately 0.0% of Spruce Street Capital LP's investment portfolio, making the stock its 26th largest position. Spruce Street Capital LP owned approximately 1.18% of Lexeo Therapeutics as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LXEO. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lexeo Therapeutics by 69.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,547 shares of the company's stock worth $35,000 after acquiring an additional 1,459 shares in the last quarter. Bank of America Corp DE grew its position in shares of Lexeo Therapeutics by 6.1% in the 3rd quarter. Bank of America Corp DE now owns 28,279 shares of the company's stock valued at $188,000 after acquiring an additional 1,626 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Lexeo Therapeutics by 123.7% during the 4th quarter. California State Teachers Retirement System now owns 3,884 shares of the company's stock worth $39,000 after acquiring an additional 2,148 shares during the period. Intech Investment Management LLC increased its position in Lexeo Therapeutics by 19.5% during the 4th quarter. Intech Investment Management LLC now owns 14,188 shares of the company's stock valued at $141,000 after purchasing an additional 2,317 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Lexeo Therapeutics by 25.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,893 shares of the company's stock valued at $118,000 after acquiring an additional 2,427 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Narinder Pal Bhalla sold 22,306 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $4.42, for a total value of $98,592.52. Following the completion of the transaction, the insider directly owned 82,194 shares of the company's stock, valued at $363,297.48. This trade represents a 21.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $116,242.56. Following the sale, the chief executive officer directly owned 377,817 shares in the company, valued at approximately $1,692,620.16. The trade was a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 66,326 shares of company stock valued at $299,817. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LXEO. JPMorgan Chase & Co. decreased their target price on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, June 25th. Wall Street Zen downgraded shares of Lexeo Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Lexeo Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th. Finally, Chardan Capital raised Lexeo Therapeutics to a "strong-buy" rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lexeo Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $18.75.

Lexeo Therapeutics Trading Down 4.4%

Shares of NASDAQ:LXEO traded down $0.22 during mid-day trading on Friday, reaching $4.77. The company had a trading volume of 365,491 shares, compared to its average volume of 943,904. Lexeo Therapeutics, Inc. has a one year low of $3.99 and a one year high of $10.99. The firm has a market cap of $391.38 million, a price-to-earnings ratio of -4.15 and a beta of 1.46. The company's 50-day moving average price is $4.74 and its 200-day moving average price is $5.47.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.01). On average, research analysts anticipate that Lexeo Therapeutics, Inc. will post -1.18 EPS for the current fiscal 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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