Verition Fund Management LLC Boosts Stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Verition Fund Management LLC grew its holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 84.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 777,320 shares of the company's stock after acquiring an additional 355,928 shares during the period. Verition Fund Management LLC owned about 2.35% of Lexeo Therapeutics worth $7,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vestal Point Capital LP grew its position in Lexeo Therapeutics by 1.2% during the 3rd quarter. Vestal Point Capital LP now owns 850,000 shares of the company's stock worth $7,684,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company's stock worth $7,554,000 after buying an additional 65,573 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Lexeo Therapeutics by 107.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company's stock worth $577,000 after acquiring an additional 33,013 shares during the period. Bank of New York Mellon Corp raised its position 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 acquiring an additional 3,483 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Lexeo Therapeutics by 121.5% in the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company's stock valued at $129,000 after acquiring an additional 7,803 shares during the period. Institutional investors and hedge funds own 60.67% of the company's stock.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares in the company, valued at approximately $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 12,500 shares of company stock worth $113,300 in the last 90 days. Insiders own 4.50% of the company's stock.

Lexeo Therapeutics Price Performance

LXEO traded up $0.18 during midday trading on Monday, hitting $8.41. 360,519 shares of the company traded hands, compared to its average volume of 249,947. The business has a 50 day simple moving average of $8.35 and a two-hundred day simple moving average of $11.73. Lexeo Therapeutics, Inc. has a 52-week low of $5.77 and a 52-week high of $22.33. The company has a market capitalization of $278.09 million and a price-to-earnings ratio of -2.66. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

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

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.