Lexeo Therapeutics (NASDAQ:LXEO) Stock Price Up 9% – Here’s Why

Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) traded up 9% during mid-day trading on Friday . The company traded as high as $10.22 and last traded at $10.3250. 304,975 shares traded hands during trading, a decline of 65% from the average session volume of 863,517 shares. The stock had previously closed at $9.47.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LXEO shares. Wall Street Zen raised Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Guggenheim assumed coverage on shares of Lexeo Therapeutics in a research report on Wednesday, October 15th. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexeo Therapeutics in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of Lexeo Therapeutics in a research report on Monday, December 1st. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Raymond James Financial began coverage on shares of Lexeo Therapeutics in a report on Wednesday, December 17th. They set a “strong-buy” rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lexeo Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Lexeo Therapeutics Stock Up 11.3%

The business’s 50 day moving average price is $9.49 and its 200-day moving average price is $7.05. The company has a market cap of $769.31 million, a PE ratio of -3.90 and a beta of 1.75.

Lexeo Therapeutics (NASDAQ:LXEO) last released its quarterly earnings results 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. Equities analysts expect that Lexeo Therapeutics, Inc. will post -3.14 earnings per share for the current year.

Insider Activity

In other news, insider Eric Adler sold 3,382 shares of Lexeo Therapeutics stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $8.94, for a total transaction of $30,235.08. Following the sale, the insider directly owned 73,261 shares of the company’s stock, valued at approximately $654,953.34. The trade was a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Nolan Townsend sold 13,133 shares of the business’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 completion of the transaction, 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. Insiders sold 24,646 shares of company stock worth $221,037 over the last ninety days. Corporate insiders own 5.30% of the company’s stock.

Institutional Trading of Lexeo Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. boosted its stake in Lexeo Therapeutics by 363.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock valued at $17,787,000 after acquiring an additional 3,469,210 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Lexeo Therapeutics during the second quarter worth about $16,117,000. Citadel Advisors LLC lifted its position in shares of Lexeo Therapeutics by 3.1% during the third 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. Affinity Asset Advisors LLC grew its stake in Lexeo Therapeutics by 142.4% in the second quarter. Affinity Asset Advisors LLC now owns 3,589,355 shares of the company’s stock worth $14,429,000 after purchasing an additional 2,108,474 shares in the last quarter. Finally, Vestal Point Capital LP increased its holdings 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 valued at $21,580,000 after buying an additional 21,839 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

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.