Richard Nolan Townsend Sells 10,173 Shares of Lexeo Therapeutics (NASDAQ:LXEO) Stock

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) CEO Richard Nolan Townsend sold 10,173 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $6.38, for a total value of $64,903.74. Following the completion of the transaction, the chief executive officer directly owned 392,483 shares of the company’s stock, valued at approximately $2,504,041.54. The trade was a 2.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Lexeo Therapeutics Stock Up 0.3%

LXEO stock opened at $6.29 on Friday. The company has a market capitalization of $459.11 million, a P/E ratio of -2.33 and a beta of 1.78. The company has a 50-day simple moving average of $8.30 and a 200 day simple moving average of $7.65. Lexeo Therapeutics, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $10.99.

Institutional Investors Weigh In On Lexeo Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new stake in shares of Lexeo Therapeutics during the fourth quarter valued at $49,650,000. Paradigm Biocapital Advisors LP purchased a new stake in Lexeo Therapeutics during the fourth quarter valued at about $47,299,000. Balyasny Asset Management L.P. purchased a new stake in Lexeo Therapeutics during the second quarter valued at about $16,117,000. Frazier Life Sciences Management L.P. boosted its holdings in shares of Lexeo Therapeutics by 363.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 4,424,725 shares of the company’s stock worth $17,787,000 after buying an additional 3,469,210 shares during the period. Finally, Avoro Capital Advisors LLC purchased a new position in shares of Lexeo Therapeutics in the fourth quarter worth approximately $32,769,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on LXEO shares. Wall Street Zen upgraded shares of Lexeo Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Raymond James Financial assumed coverage on Lexeo Therapeutics in a research note on Wednesday, December 17th. They set a “strong-buy” rating and a $25.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $17.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday, January 13th. HC Wainwright cut their price objective on Lexeo Therapeutics from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Finally, Cantor Fitzgerald started coverage on Lexeo Therapeutics in a report on Monday, December 1st. They set an “overweight” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

About Lexeo Therapeutics

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.