Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Stake Raised by State Street Corp

State Street Corp lifted its holdings in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 29.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,946 shares of the company’s stock after buying an additional 57,674 shares during the period. State Street Corp owned approximately 0.77% of Lexeo Therapeutics worth $2,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in Lexeo Therapeutics by 184.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after acquiring an additional 3,591 shares during the period. Values First Advisors Inc. bought a new stake in shares of Lexeo Therapeutics during the third quarter valued at about $67,000. MetLife Investment Management LLC lifted its holdings in Lexeo Therapeutics by 121.5% in the third quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after purchasing an additional 7,803 shares during the period. Rhumbline Advisers grew its position in Lexeo Therapeutics by 37.3% in the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after buying an additional 3,627 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in Lexeo Therapeutics during the 3rd quarter valued at about $241,000. 60.67% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the transaction, the chief executive officer now owns 120,695 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. In the last 90 days, insiders sold 10,000 shares of company stock worth $80,550. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LXEO. Leerink Partners reduced their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Chardan Capital upped their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright lifted their price target on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Buy” and a consensus target price of $23.80.

Lexeo Therapeutics Stock Up 0.6 %

LXEO stock opened at $6.58 on Wednesday. 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 firm has a market cap of $217.57 million and a PE ratio of -2.08. Lexeo Therapeutics, Inc. has a 12 month low of $5.77 and a 12 month high of $22.33. The firm has a 50 day simple moving average of $7.48 and a 200 day simple moving average of $10.33.

Lexeo Therapeutics Profile

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.