Lexeo Therapeutics (NASDAQ:LXEO) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Lexeo Therapeutics (NASDAQ:LXEO) from a hold rating to a strong sell rating in a report published on Saturday.

LXEO has been the subject of a number of other reports. Chardan Capital raised shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. cut their price objective on Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, June 25th. Finally, Weiss Ratings lowered Lexeo Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $18.75.

Lexeo Therapeutics Trading Up 2.9%

Shares of Lexeo Therapeutics stock opened at $4.98 on Friday. The company’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $5.60. The company has a market cap of $408.59 million, a P/E ratio of -4.33 and a beta of 1.46. Lexeo Therapeutics has a 12-month low of $3.99 and a 12-month high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.01). Analysts predict that Lexeo Therapeutics will post -1.2 EPS for the current fiscal year.

Insider Activity

In related news, insider Narinder Pal Bhalla sold 22,306 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total value of $98,592.52. Following the completion of the transaction, the insider directly owned 82,194 shares in the company, valued at $363,297.48. This trade represents a 21.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Nolan Townsend sold 25,947 shares of Lexeo Therapeutics stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total transaction of $116,242.56. Following the transaction, the chief executive officer directly owned 377,817 shares of the company’s stock, valued at approximately $1,692,620.16. This trade represents a 6.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 57,560 shares of company stock valued at $256,577. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in LXEO. Allworth Financial LP boosted its position in shares of Lexeo Therapeutics by 1,002.9% in the 4th quarter. Allworth Financial LP now owns 3,386 shares of the company’s stock worth $34,000 after purchasing an additional 3,079 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Lexeo Therapeutics by 69.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,547 shares of the company’s stock valued at $35,000 after buying an additional 1,459 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Lexeo Therapeutics during the 4th quarter valued at approximately $37,000. California State Teachers Retirement System raised its stake in Lexeo Therapeutics by 123.7% during the fourth quarter. California State Teachers Retirement System now owns 3,884 shares of the company’s stock valued at $39,000 after buying an additional 2,148 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Lexeo Therapeutics by 160.2% during the fourth quarter. Russell Investments Group Ltd. now owns 5,872 shares of the company’s stock valued at $58,000 after buying an additional 3,615 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.