Insider Selling: Lexeo Therapeutics, Inc. (NASDAQ:LXEO) CEO Sells $19,550.00 in Stock

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) CEO Richard Nolan Townsend sold 2,500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $7.82, for a total value of $19,550.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $943,834.90. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, October 10th, Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock. The stock was sold at an average price of $8.10, for a total value of $40,500.00.
• On Tuesday, September 10th, Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock. The shares were sold at an average price of $10.65, for a total transaction of $53,250.00.

Lexeo Therapeutics Stock Performance

Shares of LXEO opened at $6.65 on Friday. Lexeo Therapeutics, Inc. has a one year low of $6.65 and a one year high of $22.33. The company has a market cap of $219.85 million and a PE ratio of -2.10. The stock has a 50-day moving average of $9.01 and a 200-day moving average of $12.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38.

Institutional Investors Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Lexeo Therapeutics during the first quarter worth about $75,000. American International Group Inc. bought a new position in Lexeo Therapeutics in the 1st quarter valued at about $79,000. Values First Advisors Inc. acquired a new position in Lexeo Therapeutics during the 3rd quarter valued at about $67,000. Rhumbline Advisers increased its holdings in Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after purchasing an additional 3,627 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Lexeo Therapeutics by 121.5% in the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after purchasing an additional 7,803 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Chardan Capital upped their price objective on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. Leerink Partners cut their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Finally, HC Wainwright boosted their price objective on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lexeo Therapeutics has a consensus rating of “Buy” and an average price target of $22.71.

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.