RA Capital Management L.P. Reduces Position in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

RA Capital Management L.P. cut its holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Free Report) by 18.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 546,554 shares of the company's stock after selling 126,158 shares during the quarter. RA Capital Management L.P. owned approximately 1.65% of Lexeo Therapeutics worth $4,941,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LXEO. BNP Paribas Financial Markets boosted its stake in shares of Lexeo Therapeutics by 184.2% in the 3rd 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 in the last quarter. Values First Advisors Inc. acquired a new stake in Lexeo Therapeutics in the third quarter valued at approximately $67,000. MetLife Investment Management LLC grew its stake in shares of Lexeo Therapeutics by 121.5% during the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company's stock worth $129,000 after buying an additional 7,803 shares during the last quarter. Rhumbline Advisers increased its stake 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 buying an additional 3,627 shares during the period. Finally, PDT Partners LLC bought a new position in Lexeo Therapeutics during the 3rd quarter worth $241,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the business's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares of the company's stock, valued at approximately $977,629.50. The trade was a 3.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 12,500 shares of company stock valued at $113,300. Corporate insiders own 4.50% of the company's stock.

Lexeo Therapeutics Stock Up 2.4 %

Shares of NASDAQ LXEO traded up $0.16 during trading on Thursday, hitting $6.91. The stock had a trading volume of 286,045 shares, compared to its average volume of 250,978. The firm has a fifty day moving average of $8.28 and a two-hundred day moving average of $11.65. The company has a market capitalization of $228.51 million and a PE ratio of -2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. Lexeo Therapeutics, Inc. has a 12 month low of $5.77 and a 12 month high of $22.33.

Analyst Upgrades and Downgrades

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