Lexeo Therapeutics (NASDAQ:LXEO) Upgraded to Strong-Buy at Chardan Capital

Chardan Capital upgraded shares of Lexeo Therapeutics (NASDAQ:LXEO) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on LXEO. JPMorgan Chase & Co. reduced their price target on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, June 25th. Weiss Ratings raised shares of Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lexeo Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $18.75.

Lexeo Therapeutics Trading Up 0.9%

Shares of LXEO opened at $4.35 on Tuesday. Lexeo Therapeutics has a 52 week low of $4.03 and a 52 week high of $10.99. The firm has a market cap of $341.57 million, a price-to-earnings ratio of -3.00 and a beta of 1.42. The stock has a 50 day moving average of $4.71 and a 200-day moving average of $5.84.

Lexeo Therapeutics (NASDAQ:LXEO) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. On average, sell-side analysts predict that Lexeo Therapeutics will post -1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Narinder Pal Bhalla sold 22,306 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $4.42, for a total transaction of $98,592.52. Following the completion of the transaction, the insider owned 82,194 shares of the company’s stock, valued at approximately $363,297.48. The trade was a 21.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Nolan Townsend sold 25,947 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.48, for a total transaction of $116,242.56. Following the transaction, the chief executive officer owned 377,817 shares of the company’s stock, valued at $1,692,620.16. This represents a 6.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 62,204 shares of company stock worth $280,089 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Spruce Street Capital LP raised its holdings in shares of Lexeo Therapeutics by 430.6% during the first quarter. Spruce Street Capital LP now owns 928,593 shares of the company’s stock valued at $5,330,000 after buying an additional 753,593 shares during the last quarter. Orbimed Advisors LLC grew its holdings in Lexeo Therapeutics by 69.5% in the 1st quarter. Orbimed Advisors LLC now owns 3,602,450 shares of the company’s stock worth $20,678,000 after buying an additional 1,477,450 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in Lexeo Therapeutics by 57.8% in the 1st quarter. Affinity Asset Advisors LLC now owns 5,050,211 shares of the company’s stock worth $28,988,000 after buying an additional 1,850,211 shares in the last quarter. Avoro Capital Advisors LLC acquired a new stake in Lexeo Therapeutics in the 4th quarter valued at approximately $32,769,000. Finally, 683 Capital Management LLC increased its position in Lexeo Therapeutics by 21.4% in the 4th quarter. 683 Capital Management LLC now owns 1,120,000 shares of the company’s stock valued at $11,122,000 after acquiring an additional 197,338 shares during the period. Institutional investors own 60.67% of the company’s stock.

About Lexeo Therapeutics

Lexeo Therapeutics, Inc is a clinical?stage biotechnology company dedicated to developing novel, precision?designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next?generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.