Lexeo Therapeutics (NASDAQ:LXEO) Stock Price Up 10.4% – Time to Buy?

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) rose 10.4% on Monday . The company traded as high as $8.00 and last traded at $7.56. Approximately 707,775 shares changed hands during trading, a decline of 28% from the average daily volume of 980,985 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

LXEO has been the topic of a number of recent research reports. Raymond James Financial initiated coverage on Lexeo Therapeutics in a research note on Wednesday, December 17th. They issued a “strong-buy” rating and a $25.00 target price on the stock. Oppenheimer restated an “outperform” rating and issued a $20.00 price objective on shares of Lexeo Therapeutics in a research report on Wednesday, December 10th. Cantor Fitzgerald initiated coverage on shares of Lexeo Therapeutics in a research note on Monday, December 1st. They set an “overweight” rating and a $19.00 price objective on the stock. Chardan Capital reaffirmed a “buy” rating and set a $17.00 target price on shares of Lexeo Therapeutics in a report on Tuesday, January 13th. Finally, HC Wainwright decreased their target price on shares of Lexeo Therapeutics from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lexeo Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Lexeo Therapeutics Stock Performance

The company has a market capitalization of $525.53 million, a PE ratio of -2.67 and a beta of 1.78. The company has a 50 day simple moving average of $7.53 and a 200 day simple moving average of $7.86.

Insider Transactions at Lexeo Therapeutics

In other news, CEO Richard Nolan Townsend sold 10,173 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $6.38, for a total transaction of $64,903.74. Following the completion of the sale, the chief executive officer owned 392,483 shares of the company’s stock, valued at $2,504,041.54. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Savant Capital LLC acquired a new position in Lexeo Therapeutics during the second quarter worth $119,000. Affinity Asset Advisors LLC boosted its stake in Lexeo Therapeutics by 142.4% during the second quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company’s stock worth $14,429,000 after buying an additional 2,108,474 shares during the period. Frazier Life Sciences Management L.P. increased its position in shares of Lexeo Therapeutics by 363.1% during the second 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 during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Lexeo Therapeutics in the 1st quarter valued at approximately $85,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Lexeo Therapeutics by 123.7% in the 4th quarter. California State Teachers Retirement System now owns 3,884 shares of the company’s stock worth $39,000 after acquiring an additional 2,148 shares during the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.