Lexeo Therapeutics (NASDAQ:LXEO) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Lexeo Therapeutics (NASDAQ:LXEO) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, June 25th. Weiss Ratings upgraded Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Finally, Chardan Capital upgraded Lexeo Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Lexeo Therapeutics presently has an average rating of “Buy” and an average target price of $18.75.

Lexeo Therapeutics Stock Performance

Shares of LXEO stock opened at $4.20 on Friday. The stock has a fifty day simple moving average of $4.65 and a two-hundred day simple moving average of $5.24. The firm has a market capitalization of $344.61 million, a PE ratio of -3.65 and a beta of 1.50. Lexeo Therapeutics has a 52-week low of $3.99 and a 52-week high of $10.99.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.01). On average, sell-side analysts forecast that Lexeo Therapeutics will post -1.18 EPS for the current fiscal year.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, insider Narinder Pal Bhalla sold 22,306 shares of Lexeo Therapeutics 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 directly owned 82,194 shares of the company’s stock, valued at $363,297.48. The trade was a 21.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Richard Townsend sold 25,947 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total transaction of $116,242.56. Following the completion of the sale, the chief executive officer directly owned 377,817 shares in the company, valued at approximately $1,692,620.16. This represents a 6.43% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 66,326 shares of company stock valued at $299,817 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in Lexeo Therapeutics in the second quarter worth about $32,000. Allworth Financial LP boosted its position in Lexeo Therapeutics by 1,002.9% in the 4th quarter. Allworth Financial LP now owns 3,386 shares of the company’s stock valued at $34,000 after buying an additional 3,079 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Lexeo Therapeutics in the fourth quarter worth approximately $37,000. Spark Investment Management LLC purchased a new position in Lexeo Therapeutics during the 2nd quarter worth $70,000. Finally, Canada Pension Plan Investment Board bought a new stake in Lexeo Therapeutics during the 2nd quarter valued at $86,000. 60.67% of the stock is currently owned by institutional investors.

About Lexeo Therapeutics

Lexeo Therapeutics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for genetic and acquired diseases. The company uses adeno-associated virus (AAV) delivery technology to introduce genetic material intended to address underlying disease mechanisms, with programs spanning central nervous system and cardiovascular conditions.

Lexeo’s development portfolio includes investigational therapies for APOE4-associated Alzheimer’s disease, Friedreich’s ataxia, and inherited cardiac disorders such as LMNA-related dilated cardiomyopathy and arrhythmogenic right ventricular cardiomyopathy.