Lexeo Therapeutics (NASDAQ:LXEO) Insider Sells $30,235.08 in Stock

Key Points

• Insider Eric Adler sold 3,382 shares of Lexeo Therapeutics stock at an average price of $8.94, totaling $30,235.08, and now owns 73,261 shares, reflecting a 4.41% decrease in ownership.
• Lexeo Therapeutics' stock recently surged by 9.2%, reaching $9.58, with a significant trading volume of over 4 million shares, surpassing its average volume.
• Analysts have set new price targets for Lexeo Therapeutics, with estimates ranging from $15.00 to $30.00, indicating strong buy ratings from several investment firms.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) insider Eric Adler sold 3,382 shares of the business's stock in a transaction on Friday, October 17th. The shares were sold at an average price of $8.94, for a total value of $30,235.08. Following the completion of the sale, the insider owned 73,261 shares of the company's stock, valued at $654,953.34. This trade represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Eric Adler also recently made the following trade(s):

• On Monday, August 18th, Eric Adler sold 608 shares of Lexeo Therapeutics stock. The stock was sold at an average price of $4.67, for a total value of $2,839.36.

Lexeo Therapeutics Stock Up 9.2%

Shares of LXEO traded up $0.81 during midday trading on Friday, reaching $9.58. 4,078,215 shares of the stock were exchanged, compared to its average volume of 717,241. The stock's 50 day simple moving average is $5.91 and its 200 day simple moving average is $4.39. Lexeo Therapeutics, Inc. has a twelve month low of $1.45 and a twelve month high of $11.72. The company has a market cap of $517.32 million, a P/E ratio of -2.94 and a beta of 1.66.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings results 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, analysts predict that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LXEO. CWM LLC raised its holdings in Lexeo Therapeutics by 150.3% in the 2nd quarter. CWM LLC now owns 10,351 shares of the company's stock valued at $42,000 after buying an additional 6,216 shares during the last quarter. Ethic Inc. bought a new position in Lexeo Therapeutics during the 2nd quarter worth approximately $44,000. Cerity Partners LLC bought a new position in Lexeo Therapeutics during the 2nd quarter worth approximately $50,000. Intech Investment Management LLC raised its holdings in Lexeo Therapeutics by 20.7% during the 2nd quarter. Intech Investment Management LLC now owns 13,682 shares of the company's stock worth $55,000 after purchasing an additional 2,342 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Lexeo Therapeutics during the 2nd quarter worth approximately $60,000. Institutional investors own 60.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Lexeo Therapeutics in a research note on Thursday, July 31st. They issued an "outperform" rating and a $20.00 price target on the stock. HC Wainwright upped their price target on shares of Lexeo Therapeutics from $9.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Chardan Capital upped their price objective on shares of Lexeo Therapeutics from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Leerink Partners upped their price objective on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. Finally, Guggenheim initiated coverage on shares of Lexeo Therapeutics in a research report on Wednesday. They set a "buy" rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.

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