Bank of America Corp DE Trims Stock Position in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Bank of America Corp DE lowered its position in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,376 shares of the company’s stock after selling 8,409 shares during the period. Bank of America Corp DE owned about 0.09% of Lexeo Therapeutics worth $200,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Allostery Investments LP purchased a new stake in Lexeo Therapeutics in the fourth quarter valued at approximately $33,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Lexeo Therapeutics in the 4th quarter valued at $69,000. Wells Fargo & Company MN increased its holdings in shares of Lexeo Therapeutics by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 11,156 shares of the company’s stock valued at $73,000 after acquiring an additional 3,714 shares during the period. JPMorgan Chase & Co. raised its position in Lexeo Therapeutics by 30.1% in the 4th quarter. JPMorgan Chase & Co. now owns 13,371 shares of the company’s stock valued at $88,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Lexeo Therapeutics during the 4th quarter worth $117,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on LXEO shares. Chardan Capital dropped their price objective on shares of Lexeo Therapeutics from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada dropped their price target on Lexeo Therapeutics from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Leerink Partners reduced their price objective on Lexeo Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their target price on Lexeo Therapeutics from $16.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Finally, HC Wainwright dropped their target price on Lexeo Therapeutics from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lexeo Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $16.60.

Lexeo Therapeutics Trading Down 3.7%

NASDAQ LXEO opened at $3.94 on Monday. The stock has a market capitalization of $130.80 million, a P/E ratio of -1.25 and a beta of 0.52. Lexeo Therapeutics, Inc. has a 52-week low of $1.45 and a 52-week high of $19.50. The firm has a 50-day moving average price of $3.17 and a 200 day moving average price of $4.36. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01.

Lexeo Therapeutics (NASDAQ:LXEO) last released its earnings results on Monday, May 12th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.19). Equities research analysts expect that Lexeo Therapeutics, Inc. will post -3.14 EPS for the current year.

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.