Lexeo Therapeutics (NASDAQ:LXEO) Trading Up 5% - Still a Buy?

Key Points

• Lexeo Therapeutics' stock price rose by 5% to $9.68 but saw a decline in trading volume, with only 177,188 shares traded compared to an average of 715,832 shares.
• Analysts have mixed opinions on the stock, with a consensus rating of "Moderate Buy" and a target price averaging $18.57, while Guggenheim set a target of $30.00 and Weiss Ratings issued a "sell" rating.
• Insider trading activity included CEO Richard Nolan Townsend selling 13,133 shares, reflecting a 5.15% decrease in his holdings, raising concerns among investors about confidence in the stock.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report)'s stock price was up 5% on Tuesday . The stock traded as high as $9.75 and last traded at $9.68. Approximately 177,188 shares were traded during trading, a decline of 75% from the average daily volume of 715,832 shares. The stock had previously closed at $9.22.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LXEO shares. Guggenheim started coverage on Lexeo Therapeutics in a research report on Wednesday, October 15th. They set a "buy" rating and a $30.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Lexeo Therapeutics in a research report on Wednesday, October 8th. Leerink Partners boosted 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. Chardan Capital boosted 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. Finally, HC Wainwright lowered their target price on Lexeo Therapeutics from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.57.

Lexeo Therapeutics Stock Performance

The company has a market cap of $521.48 million, a P/E ratio of -2.99 and a beta of 1.66. The firm has a 50 day moving average price of $6.00 and a 200-day moving average price of $4.46.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.04. On average, sell-side analysts forecast that Lexeo Therapeutics, Inc. will post -3.14 EPS for the current fiscal year.

Insider Buying and Selling at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 13,133 shares of the firm's stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $117,409.02. Following the completion of the sale, the chief executive officer owned 242,118 shares in the company, valued at approximately $2,164,534.92. This trade represents a 5.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Adler sold 3,382 shares of the firm's stock in a transaction that occurred on Friday, October 17th. The stock was 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 represents a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,091 shares of company stock valued at $232,007 in the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Trading of Lexeo Therapeutics

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

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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