Lexeo Therapeutics (NASDAQ:LXEO) Shares Gap Up – Still a Buy?

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) gapped up prior to trading on Thursday . The stock had previously closed at $9.11, but opened at $9.68. Lexeo Therapeutics shares last traded at $9.4970, with a volume of 192,264 shares trading hands.

Wall Street Analyst Weigh In

LXEO has been the topic of several research analyst reports. Raymond James Financial initiated coverage on Lexeo Therapeutics in a research note on Wednesday. They set a “strong-buy” rating and a $25.00 price objective on the stock. Cantor Fitzgerald assumed coverage on Lexeo Therapeutics in a research note on Monday, December 1st. They issued an “overweight” rating and a $19.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexeo Therapeutics in a research report on Wednesday, October 8th. Oppenheimer reiterated an “outperform” rating and set a $20.00 price objective on shares of Lexeo Therapeutics in a report on Wednesday, December 10th. Finally, HC Wainwright reissued a “buy” rating on shares of Lexeo Therapeutics in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lexeo Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Lexeo Therapeutics Trading Up 7.1%

The stock has a market cap of $712.24 million, a price-to-earnings ratio of -3.60 and a beta of 1.76. The company has a 50 day simple moving average of $9.17 and a 200-day simple moving average of $6.31.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.15. Equities analysts forecast that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current fiscal year.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 13,133 shares of Lexeo Therapeutics stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $8.94, for a total value of $117,409.02. Following the sale, the chief executive officer directly owned 242,118 shares in the company, valued at $2,164,534.92. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Adler sold 3,382 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $30,235.08. Following the completion of the sale, the insider directly owned 73,261 shares in the company, valued at approximately $654,953.34. This represents a 4.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 24,646 shares of company stock valued at $221,037 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of large investors have recently modified their holdings of the business. Frazier Life Sciences Management L.P. grew its holdings in shares of Lexeo Therapeutics by 363.1% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock valued at $17,787,000 after acquiring an additional 3,469,210 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Lexeo Therapeutics in the second quarter valued at approximately $16,117,000. Citadel Advisors LLC increased its position in shares of Lexeo Therapeutics by 3.1% during the 3rd quarter. Citadel Advisors LLC now owns 3,719,043 shares of the company’s stock worth $24,694,000 after purchasing an additional 111,076 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Lexeo Therapeutics by 142.4% during the 2nd quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company’s stock worth $14,429,000 after purchasing an additional 2,108,474 shares in the last quarter. Finally, Vestal Point Capital LP boosted its holdings in shares of Lexeo Therapeutics by 0.7% in the 3rd quarter. Vestal Point Capital LP now owns 3,250,000 shares of the company’s stock valued at $21,580,000 after buying an additional 21,839 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Lexeo Therapeutics Company 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.