Lexeo Therapeutics (NASDAQ:LXEO) Hits New 52-Week High – What’s Next?

Lexeo Therapeutics, Inc. (NASDAQ:LXEO)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $10.56 and last traded at $10.1160, with a volume of 562098 shares trading hands. The stock had previously closed at $9.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LXEO shares. Oppenheimer reiterated an “outperform” rating and set a $20.00 price target on shares of Lexeo Therapeutics in a report on Wednesday, December 10th. HC Wainwright reaffirmed a “buy” rating on shares of Lexeo Therapeutics in a research report on Monday, November 3rd. Leerink Partners increased their target price on shares of Lexeo Therapeutics from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on shares of Lexeo Therapeutics in a research note on Monday, December 1st. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $17.00 price objective on shares of Lexeo Therapeutics in a report on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.63.

Lexeo Therapeutics Stock Down 3.5%

The company’s 50-day moving average price is $9.15 and its 200-day moving average price is $6.29. The firm has a market cap of $685.01 million, a price-to-earnings ratio of -3.53 and a beta of 1.76.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.15. On average, sell-side analysts predict that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current fiscal year.

Insider Activity at Lexeo Therapeutics

In related news, insider Eric Adler sold 3,382 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $30,235.08. Following the completion of the transaction, the insider directly owned 73,261 shares of the company’s stock, valued at $654,953.34. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Nolan Townsend sold 13,133 shares of the company’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $8.94, for a total value of $117,409.02. Following the sale, the chief executive officer owned 242,118 shares in the company, valued at approximately $2,164,534.92. This trade represents a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,646 shares of company stock worth $221,037. Company insiders own 5.30% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Several hedge funds have recently added to or reduced their stakes in LXEO. Vestal Point Capital LP lifted its stake in Lexeo Therapeutics by 0.7% in the third quarter. Vestal Point Capital LP now owns 3,250,000 shares of the company’s stock worth $21,580,000 after acquiring an additional 21,839 shares during the last quarter. Scientech Research LLC acquired a new stake in shares of Lexeo Therapeutics in the 3rd quarter valued at $90,000. Brevan Howard Capital Management LP purchased a new stake in shares of Lexeo Therapeutics during the 3rd quarter worth $122,000. Citadel Advisors LLC lifted its position in shares of Lexeo Therapeutics by 3.1% during the 3rd quarter. Citadel Advisors LLC now owns 3,719,043 shares of the company’s stock worth $24,694,000 after purchasing an additional 111,076 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Lexeo Therapeutics by 6.1% during the third quarter. Bank of America Corp DE now owns 28,279 shares of the company’s stock worth $188,000 after purchasing an additional 1,626 shares in the last quarter. Institutional investors and hedge funds own 60.67% 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.