Point72 Asset Management L.P. Makes New $3.35 Million Investment in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Point72 Asset Management L.P. purchased a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 370,407 shares of the company's stock, valued at approximately $3,348,000. Point72 Asset Management L.P. owned about 1.12% of Lexeo Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Lexeo Therapeutics by 184.2% in the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company's stock valued at $50,000 after purchasing an additional 3,591 shares during the period. Values First Advisors Inc. bought a new stake in Lexeo Therapeutics in the 3rd quarter valued at $67,000. MetLife Investment Management LLC grew its holdings in 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 buying an additional 7,803 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Lexeo Therapeutics by 37.3% in the second quarter. Rhumbline Advisers now owns 13,357 shares of the company's stock valued at $214,000 after acquiring an additional 3,627 shares during the period. Finally, PDT Partners LLC bought a new position in Lexeo Therapeutics during the third quarter worth about $241,000. Institutional investors own 60.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LXEO shares. Chardan Capital increased their target price on 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 restated an "outperform" rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Leerink Partners reduced their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 13th. Finally, HC Wainwright boosted their price target on Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a "buy" rating in a report 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. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $23.80.

Lexeo Therapeutics Stock Up 2.5 %

Shares of LXEO stock traded up $0.21 on Tuesday, hitting $8.50. The stock had a trading volume of 130,285 shares, compared to its average volume of 250,922. 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 business has a 50 day moving average of $8.20 and a 200 day moving average of $11.47. Lexeo Therapeutics, Inc. has a 12-month low of $5.77 and a 12-month high of $22.33. The stock has a market cap of $281.10 million and a price-to-earnings ratio of -2.62.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 120,695 shares in the company, valued at $977,629.50. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.50% of the company's stock.

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.