Eventide Asset Management LLC Reduces Holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Eventide Asset Management LLC lowered its stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 44.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,855,986 shares of the company’s stock after selling 1,513,161 shares during the period. Eventide Asset Management LLC owned 5.61% of Lexeo Therapeutics worth $16,778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position 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 purchasing an additional 3,591 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Lexeo Therapeutics in the 3rd quarter worth about $67,000. American International Group Inc. bought a new stake in shares of Lexeo Therapeutics in the 1st quarter worth about $79,000. MetLife Investment Management LLC increased its position 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 purchasing an additional 7,803 shares during the last quarter. Finally, Rhumbline Advisers increased 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 purchasing an additional 3,627 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO opened at $7.83 on Friday. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics, Inc. has a fifty-two week low of $5.77 and a fifty-two week high of $22.33. The firm has a 50-day simple moving average of $8.43 and a 200 day simple moving average of $11.83. The company has a market cap of $258.94 million and a PE ratio of -2.48.

Analysts Set New Price Targets

LXEO has been the subject of several research analyst reports. Leerink Partners dropped their target price on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. HC Wainwright boosted their price objective on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Chardan Capital boosted their price objective on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Five investment 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, the stock presently has an average rating of “Buy” and an average target price of $23.80.

Insider Buying and Selling at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total transaction of $53,250.00. Following the completion of the transaction, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at $1,285,401.75. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 12,500 shares of company stock valued at $113,300 in the last ninety days. Company insiders own 4.50% of the company’s stock.

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.