Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Shares Sold by Braidwell LP

Braidwell LP decreased its holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 47.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 728,777 shares of the company's stock after selling 653,704 shares during the period. Braidwell LP owned about 2.20% of Lexeo Therapeutics worth $6,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. American International Group Inc. purchased a new stake in Lexeo Therapeutics in the first quarter worth about $79,000. Vanguard Group Inc. boosted its stake in shares of Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company's stock valued at $7,554,000 after purchasing an additional 65,573 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Lexeo Therapeutics by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company's stock valued at $510,000 after buying an additional 3,483 shares during the period. Rhumbline Advisers raised its stake in Lexeo Therapeutics by 37.3% in the second quarter. Rhumbline Advisers now owns 13,357 shares of the company's stock worth $214,000 after buying an additional 3,627 shares in the last quarter. Finally, Vestal Point Capital LP lifted its holdings in Lexeo Therapeutics by 1.2% during the third quarter. Vestal Point Capital LP now owns 850,000 shares of the company's stock worth $7,684,000 after buying an additional 10,000 shares during the period. 60.67% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the business's stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the completion of the transaction, the chief executive officer now owns 120,695 shares of the company's stock, valued at $977,629.50. The trade was a 3.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 12,500 shares of company stock valued at $113,300 in the last ninety days. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LXEO shares. Leerink Partners reduced their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, November 13th. Chardan Capital boosted their target price on shares of Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Finally, HC Wainwright raised their target price on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $23.80.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO traded up $0.40 during midday trading on Friday, hitting $8.23. The company's stock had a trading volume of 117,582 shares, compared to its average volume of 249,468. Lexeo Therapeutics, Inc. has a fifty-two week low of $5.77 and a fifty-two week high of $22.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. The firm has a market cap of $272.17 million and a P/E ratio of -2.60. The firm's 50 day moving average is $8.37 and its 200-day moving average is $11.80.

About Lexeo Therapeutics

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.