Eventide Asset Management LLC Has $16.78 Million Holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Eventide Asset Management LLC trimmed its position in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 44.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,855,986 shares of the company's stock after selling 1,513,161 shares during the period. Eventide Asset Management LLC owned approximately 5.61% of Lexeo Therapeutics worth $16,778,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC lifted its holdings in shares of Lexeo Therapeutics by 84.5% during the 3rd quarter. Verition Fund Management LLC now owns 777,320 shares of the company's stock worth $7,027,000 after acquiring an additional 355,928 shares during the period. Vanguard Group Inc. lifted its stake in Lexeo Therapeutics by 15.8% during the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company's stock worth $7,554,000 after purchasing an additional 65,573 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lexeo Therapeutics by 107.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company's stock valued at $577,000 after purchasing an additional 33,013 shares in the last quarter. Vestal Point Capital LP boosted its holdings in shares of Lexeo Therapeutics by 1.2% in the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company's stock valued at $7,684,000 after purchasing an additional 10,000 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company's stock valued at $129,000 after purchasing an additional 7,803 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company's stock, valued at $977,629.50. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 12,500 shares of company stock valued at $113,300 in the last ninety days. 4.50% of the stock is owned by company insiders.

Lexeo Therapeutics Trading Up 5.1 %

LXEO stock traded up $0.40 during midday trading on Friday, hitting $8.23. The stock had a trading volume of 117,582 shares, compared to its average volume of 249,468. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. The firm has a market cap of $272.17 million and a P/E ratio of -2.60. The business has a fifty day moving average price of $8.37 and a two-hundred day moving average price of $11.78. Lexeo Therapeutics, Inc. has a 1-year low of $5.77 and a 1-year high of $22.33.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LXEO shares. Chardan Capital upped their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Leerink Partners decreased their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Finally, HC Wainwright increased their price target on 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Lexeo Therapeutics currently has an average rating of "Buy" and a consensus target price of $23.80.

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.