Lexeo Therapeutics (NASDAQ:LXEO) Raised to “Strong-Buy” at Chardan Capital

Lexeo Therapeutics (NASDAQ:LXEO) was upgraded by stock analysts at Chardan Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings upgraded Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. JPMorgan Chase & Co. dropped their price objective on Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, June 25th. Finally, Wall Street Zen raised Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Lexeo Therapeutics has an average rating of “Buy” and an average target price of $18.75.

Lexeo Therapeutics Price Performance

Shares of LXEO stock opened at $4.35 on Tuesday. The company has a fifty day moving average price of $4.71 and a two-hundred day moving average price of $5.84. Lexeo Therapeutics has a one year low of $4.03 and a one year high of $10.99. The stock has a market cap of $341.57 million, a P/E ratio of -3.00 and a beta of 1.42.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. As a group, equities research analysts anticipate that Lexeo Therapeutics will post -1.21 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 value of $98,592.52. Following the transaction, the insider owned 82,194 shares in the company, valued at approximately $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 accessible through the SEC website. 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 the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total value of $116,242.56. Following the completion of the transaction, the chief executive officer directly owned 377,817 shares in the company, valued at $1,692,620.16. The trade was a 6.43% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 62,204 shares of company stock worth $280,089 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lexeo Therapeutics by 69.9% in 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. Bank of America Corp DE increased its position in Lexeo Therapeutics by 6.1% during the 3rd quarter. Bank of America Corp DE now owns 28,279 shares of the company’s stock worth $188,000 after buying an additional 1,626 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Lexeo Therapeutics by 123.7% during the fourth quarter. California State Teachers Retirement System now owns 3,884 shares of the company’s stock worth $39,000 after buying an additional 2,148 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Lexeo Therapeutics by 19.5% during the fourth quarter. Intech Investment Management LLC now owns 14,188 shares of the company’s stock worth $141,000 after buying an additional 2,317 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Lexeo Therapeutics by 25.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,893 shares of the company’s stock valued at $118,000 after acquiring an additional 2,427 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.

About Lexeo Therapeutics

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.