Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC reduced its stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 44.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,855,986 shares of the company’s stock after selling 1,513,161 shares during the period. Eventide Asset Management LLC owned 0.06% of Lexeo Therapeutics worth $16,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Verition Fund Management LLC lifted its stake in shares of Lexeo Therapeutics by 84.5% in the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock worth $7,027,000 after acquiring an additional 355,928 shares during the period. Vestal Point Capital LP lifted its stake in shares of Lexeo Therapeutics by 1.2% in the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock worth $7,684,000 after acquiring an additional 10,000 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after acquiring an additional 7,803 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Lexeo Therapeutics by 184.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Lexeo Therapeutics by 107.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock worth $577,000 after acquiring an additional 33,013 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the sale, the chief executive officer now owns 120,695 shares in the company, valued at $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 12,500 shares of company stock worth $113,300 over the last 90 days. 4.50% of the stock is owned by company insiders.

Lexeo Therapeutics Stock Up 6.8 %

LXEO stock opened at $7.83 on Friday. Lexeo Therapeutics, Inc. has a 52-week low of $5.77 and a 52-week high of $22.33. The company’s 50 day simple moving average is $8.43 and its 200-day simple moving average is $11.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. The firm has a market capitalization of $258.94 million and a P/E ratio of -2.48.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. HC Wainwright upped their price target on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Leerink Partners dropped their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Finally, Chardan Capital boosted their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.80.

Lexeo Therapeutics Profile

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.