Lexeo Therapeutics (NASDAQ:LXEO) Shares Gap Up – Here’s Why

by · The Cerbat Gem

Lexeo Therapeutics, Inc. (NASDAQ:LXEO – Get Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $9.11, but opened at $9.68. Lexeo Therapeutics shares last traded at $9.4970, with a volume of 192,264 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on LXEO. Raymond James Financial started coverage on Lexeo Therapeutics in a research note on Wednesday. They set a “strong-buy” rating and a $25.00 price objective for the company. Leerink Partners upped their target price on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on shares of Lexeo Therapeutics in a report on Monday, December 1st. They set an “overweight” rating and a $19.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. Finally, Guggenheim assumed coverage on shares of Lexeo Therapeutics in a research note on Wednesday, October 15th. They issued a “buy” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.33.

Get Our Latest Analysis on Lexeo Therapeutics

Lexeo Therapeutics Trading Up 7.1%

The firm has a fifty day simple moving average of $9.17 and a 200-day simple moving average of $6.31. The stock has a market cap of $712.24 million, a price-to-earnings ratio of -3.60 and a beta of 1.76.

Lexeo Therapeutics (NASDAQ:LXEO – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.15. On average, equities analysts predict that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current fiscal year.

Insider Activity

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 shares were 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 trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tai Sandi See sold 3,888 shares of Lexeo Therapeutics stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $34,758.72. Following the sale, the insider directly owned 65,862 shares of the company’s stock, valued at $588,806.28. This represents a 5.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 24,646 shares of company stock valued at $221,037. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LXEO. CWM LLC lifted its stake in Lexeo Therapeutics by 150.3% in the second 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 period. Ethic Inc. bought a new stake in shares of Lexeo Therapeutics in the 2nd quarter valued at about $44,000. Cerity Partners LLC acquired a new stake in shares of Lexeo Therapeutics in the 2nd quarter valued at approximately $50,000. Intech Investment Management LLC boosted its stake 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 acquiring 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 and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

(Get Free Report)

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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