Novo Holdings A S Trims Position in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Novo Holdings A S lessened its holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 22.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,122,581 shares of the company's stock after selling 327,919 shares during the period. Novo Holdings A S owned approximately 3.41% of Lexeo Therapeutics worth $10,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of LXEO. Values First Advisors Inc. purchased a new position in shares of Lexeo Therapeutics during the 3rd quarter worth approximately $67,000. Rhumbline Advisers lifted its stake in Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company's stock worth $214,000 after purchasing an additional 3,627 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 worth $510,000 after buying an additional 3,483 shares during the period. RA Capital Management L.P. acquired a new stake in shares of Lexeo Therapeutics in the first quarter valued at $10,364,000. Finally, Artal Group S.A. raised its holdings in shares of Lexeo Therapeutics by 32.9% in the 1st quarter. Artal Group S.A. now owns 801,716 shares of the company's stock valued at $12,571,000 after buying an additional 198,281 shares during the period. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LXEO shares. Royal Bank of Canada restated an "outperform" rating and set a $24.00 target price on shares of Lexeo Therapeutics in a report on Tuesday, August 13th. Chardan Capital reissued a "buy" rating and issued a $23.00 price objective on shares of Lexeo Therapeutics in a research note on Friday. Finally, HC Wainwright cut their target price on shares of Lexeo Therapeutics from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Tuesday, August 13th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $22.14.

Insiders Place Their Bets

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $10.65, for a total value of $53,250.00. Following the completion of the sale, the chief executive officer now directly owns 120,695 shares of the company's stock, valued at $1,285,401.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 15,000 shares of company stock valued at $151,400. 4.50% of the stock is owned by corporate insiders.

Lexeo Therapeutics Stock Down 4.0 %

Shares of LXEO traded down $0.40 during midday trading on Friday, reaching $9.50. The stock had a trading volume of 153,180 shares, compared to its average volume of 214,918. The company has a market cap of $314.07 million and a price-to-earnings ratio of -0.65. The company's fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $12.67. Lexeo Therapeutics, Inc. has a 1-year low of $7.86 and a 1-year high of $22.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.38 and a quick ratio of 9.38.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.64). Equities research analysts expect that Lexeo Therapeutics, Inc. will post -2.74 earnings per share for the current year.

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.