Wall Street Zen Upgrades Lexeo Therapeutics (NASDAQ:LXEO) to Sell

Lexeo Therapeutics (NASDAQ:LXEO) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, June 25th. Weiss Ratings upgraded shares of Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Finally, Chardan Capital raised Lexeo Therapeutics to a “strong-buy” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $18.75.

Lexeo Therapeutics Price Performance

Lexeo Therapeutics stock opened at $4.20 on Friday. The firm has a market capitalization of $344.59 million, a P/E ratio of -3.65 and a beta of 1.50. The stock has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $5.23. Lexeo Therapeutics has a 52-week low of $3.99 and a 52-week high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its earnings results on Wednesday, August 12th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.01). On average, equities research analysts predict that Lexeo Therapeutics will post -1.18 EPS for the current fiscal year.

Insider Activity

In related news, insider Narinder Pal Bhalla sold 22,306 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the transaction, the insider owned 82,194 shares in the company, valued at $363,297.48. This represents a 21.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Townsend sold 25,947 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total transaction of $116,242.56. Following the sale, the chief executive officer directly owned 377,817 shares in the company, valued at approximately $1,692,620.16. This represents a 6.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 66,326 shares of company stock worth $299,817. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Lexeo Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of LXEO. BlackRock Inc. bought a new position in Lexeo Therapeutics in the 2nd quarter worth approximately $26,717,000. Montanova Capital LLC boosted its position in Lexeo Therapeutics by 410.7% in the 2nd quarter. Montanova Capital LLC now owns 6,384,200 shares of the company’s stock valued at $29,718,000 after buying an additional 5,134,200 shares during the last quarter. Jupiter Topco LLC bought a new position in Lexeo Therapeutics in the 2nd quarter valued at $18,409,000. Avoro Capital Advisors LLC acquired a new stake in shares of Lexeo Therapeutics in the 4th quarter valued at $32,769,000. Finally, Affinity Asset Advisors LLC increased its stake in shares of Lexeo Therapeutics by 57.8% in the 1st quarter. Affinity Asset Advisors LLC now owns 5,050,211 shares of the company’s stock valued at $28,988,000 after buying an additional 1,850,211 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for genetic and acquired diseases. The company uses adeno-associated virus (AAV) delivery technology to introduce genetic material intended to address underlying disease mechanisms, with programs spanning central nervous system and cardiovascular conditions.

Lexeo’s development portfolio includes investigational therapies for APOE4-associated Alzheimer’s disease, Friedreich’s ataxia, and inherited cardiac disorders such as LMNA-related dilated cardiomyopathy and arrhythmogenic right ventricular cardiomyopathy.