Frazier Life Sciences Management L.P. Invests $11.31 Million in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Frazier Life Sciences Management L.P. purchased a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,250,786 shares of the company's stock, valued at approximately $11,307,000. Frazier Life Sciences Management L.P. owned approximately 3.78% of Lexeo Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LXEO. Janus Henderson Group PLC raised its holdings in Lexeo Therapeutics by 18.9% during the third quarter. Janus Henderson Group PLC now owns 3,763,195 shares of the company's stock worth $33,997,000 after purchasing an additional 599,203 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Lexeo Therapeutics during the third quarter worth $3,348,000. Verition Fund Management LLC raised its holdings in Lexeo Therapeutics by 84.5% during the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company's stock worth $7,027,000 after purchasing an additional 355,928 shares during the last quarter. Ikarian Capital LLC acquired a new position in Lexeo Therapeutics during the third quarter worth $2,325,000. Finally, Vanguard Group Inc. raised its holdings 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. 60.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LXEO shares. Chardan Capital lifted their price objective on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. HC Wainwright lifted their price objective on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Leerink Partners cut their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lexeo Therapeutics has an average rating of "Buy" and a consensus price target of $23.80.

Insider Activity at Lexeo Therapeutics

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the company's stock in a transaction on 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 directly owns 120,695 shares in the company, valued at approximately $977,629.50. This represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.50% of the company's stock.

Lexeo Therapeutics Price Performance

Shares of NASDAQ LXEO traded up $0.07 during trading on Tuesday, reaching $8.36. The company had a trading volume of 862,038 shares, compared to its average volume of 254,054. Lexeo Therapeutics, Inc. has a twelve month low of $5.77 and a twelve month high of $22.33. The stock has a market capitalization of $276.47 million and a PE ratio of -2.65. The stock has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $11.47. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01.

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.