Richard Nolan Townsend Sells 13,133 Shares of Lexeo Therapeutics (NASDAQ:LXEO) Stock

Key Points

• CEO Richard Nolan Townsend sold 13,133 shares of Lexeo Therapeutics at an average price of $8.94, resulting in a total value of approximately $117,409. This transaction decreased his ownership by 5.15%.
• Lexeo Therapeutics stock is currently trading at $9.58, reflecting a 9.2% increase, with a market cap of approximately $517.32 million.
• Seven analysts have rated Lexeo Therapeutics stock as a Buy, with a consensus target price of $18.86, following various upgrades from firms like HC Wainwright and Chardan Capital.

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) CEO Richard Nolan Townsend sold 13,133 shares of the company's stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $117,409.02. Following the transaction, the chief executive officer directly owned 242,118 shares of the company's stock, valued at approximately $2,164,534.92. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Richard Nolan Townsend also recently made the following trade(s):

• On Monday, August 18th, Richard Nolan Townsend sold 2,735 shares of Lexeo Therapeutics stock. The stock was sold at an average price of $4.67, for a total value of $12,772.45.

Lexeo Therapeutics Stock Up 9.2%

Lexeo Therapeutics stock 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. Lexeo Therapeutics, Inc. has a 1 year low of $1.45 and a 1 year high of $11.72. The business has a fifty day moving average of $5.91 and a 200 day moving average of $4.39. The stock has a market cap 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 posted its earnings results on Thursday, August 14th. The company reported ($0.60) EPS for the quarter, beating analysts' consensus estimates of ($0.64) by $0.04. Equities analysts anticipate that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current year.

Wall Street Analyst Weigh In

LXEO has been the topic of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. HC Wainwright raised their target price on shares of Lexeo Therapeutics from $9.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Chardan Capital upped their price target on shares of Lexeo Therapeutics from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Guggenheim began coverage on shares of Lexeo Therapeutics in a research note on Wednesday. They set a "buy" rating and a $30.00 price target for the company. Finally, Leerink Partners lifted their price objective on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lexeo Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $18.86.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. CWM LLC boosted 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 purchasing an additional 6,216 shares in the last quarter. Ethic Inc. purchased a new stake in shares of Lexeo Therapeutics in the second quarter valued at approximately $44,000. Cerity Partners LLC purchased a new position in Lexeo Therapeutics in the second quarter worth $50,000. Intech Investment Management LLC raised its position in Lexeo Therapeutics by 20.7% in the second quarter. Intech Investment Management LLC now owns 13,682 shares of the company's stock worth $55,000 after acquiring an additional 2,342 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Lexeo Therapeutics in the second quarter valued at $60,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

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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