Lexeo Therapeutics (NASDAQ:LXEO) Insider Sells $18,908.10 in Stock

Key Points

• Insider Jose Manuel Otero sold 2,115 shares of Lexeo Therapeutics for a total of $18,908.10, reducing ownership by 3.19% to a total of 64,197 shares.
• Following recent trades, Lexeo Therapeutics' stock price rose by 9.2% to hit $9.58 during mid-day trading.
• Analyst ratings are generally positive, with several brokerages setting target prices ranging from $15.00 to $30.00, leading to an average rating of "Moderate Buy."

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) insider Jose Manuel Otero sold 2,115 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $18,908.10. Following the completion of the transaction, the insider directly owned 64,197 shares in the company, valued at $573,921.18. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Jose Manuel Otero also recently made the following trade(s):

• On Monday, August 18th, Jose Manuel Otero sold 2,848 shares of Lexeo Therapeutics stock. The shares were sold at an average price of $4.67, for a total value of $13,300.16.

Lexeo Therapeutics Trading Up 9.2%

NASDAQ:LXEO traded up $0.81 during mid-day trading on Friday, hitting $9.58. The company had a trading volume of 4,078,215 shares, compared to its average volume of 717,241. The business has a fifty day simple moving average of $5.91 and a 200-day simple moving average of $4.39. Lexeo Therapeutics, Inc. has a 1 year low of $1.45 and a 1 year high of $11.72. The firm has a market capitalization of $517.32 million, a price-to-earnings ratio of -2.94 and a beta of 1.66.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.04. As a group, research analysts anticipate that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current year.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of hedge funds have recently made changes to their positions in LXEO. Balyasny Asset Management L.P. bought a new stake in shares of Lexeo Therapeutics during the second quarter valued at approximately $16,117,000. Frazier Life Sciences Management L.P. raised its holdings in shares of Lexeo Therapeutics by 363.1% during the second quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company's stock valued at $17,787,000 after buying an additional 3,469,210 shares during the last quarter. Affinity Asset Advisors LLC raised its holdings in Lexeo Therapeutics by 142.4% during the second quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company's stock worth $14,429,000 after purchasing an additional 2,108,474 shares in the last quarter. Vestal Point Capital LP raised its holdings in Lexeo Therapeutics by 184.1% during the second quarter. Vestal Point Capital LP now owns 3,228,161 shares of the company's stock worth $12,977,000 after purchasing an additional 2,091,912 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Lexeo Therapeutics by 654.8% during the first quarter. Millennium Management LLC now owns 1,071,489 shares of the company's stock worth $3,718,000 after purchasing an additional 929,538 shares in the last quarter. Institutional investors own 60.67% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LXEO. Guggenheim began coverage on Lexeo Therapeutics in a research note on Wednesday. They set a "buy" rating and a $30.00 target price for the company. Oppenheimer began coverage on Lexeo Therapeutics in a research note on Thursday, July 31st. They set an "outperform" rating and a $20.00 target price for the company. Chardan Capital raised their target price on Lexeo Therapeutics from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Leerink Partners raised their target price on Lexeo Therapeutics from $9.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Finally, HC Wainwright lifted their price target on Lexeo Therapeutics from $9.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.86.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.