Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC grew its stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 84.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 777,320 shares of the company’s stock after purchasing an additional 355,928 shares during the quarter. Verition Fund Management LLC owned approximately 2.35% of Lexeo Therapeutics worth $7,027,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Lexeo Therapeutics by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after acquiring an additional 65,573 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Lexeo Therapeutics by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after purchasing an additional 3,483 shares during the period. Rhumbline Advisers lifted its position in shares of Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after buying an additional 3,627 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Lexeo Therapeutics in the 3rd quarter valued at about $67,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lexeo Therapeutics by 107.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock valued at $577,000 after buying an additional 33,013 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Stock Up 5.1 %

Shares of Lexeo Therapeutics stock opened at $8.23 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. Lexeo Therapeutics, Inc. has a 1-year low of $5.77 and a 1-year high of $22.33. The business’s fifty day moving average price is $8.37 and its two-hundred day moving average price is $11.76. The company has a market capitalization of $272.13 million and a P/E ratio of -2.60.

Wall Street Analyst Weigh In

LXEO has been the topic of a number of recent research reports. Chardan Capital raised 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. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. HC Wainwright increased their target price on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Leerink Partners cut their target price on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.80.

Insider Activity

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at $1,285,401.75. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 12,500 shares of company stock valued at $113,300. Company insiders own 4.50% 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.