Ikarian Capital LLC Acquires New Shares in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Ikarian Capital LLC acquired a new stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 257,216 shares of the company’s stock, valued at approximately $2,325,000. Ikarian Capital LLC owned approximately 0.78% of Lexeo Therapeutics as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock valued at $7,554,000 after buying an additional 65,573 shares in the last quarter. Verition Fund Management LLC boosted its stake in Lexeo Therapeutics by 84.5% in the third quarter. Verition Fund Management LLC now owns 777,320 shares of the company’s stock valued at $7,027,000 after buying an additional 355,928 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Lexeo Therapeutics by 12.3% in the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock valued at $510,000 after buying an additional 3,483 shares in the last quarter. Vestal Point Capital LP boosted its stake in Lexeo Therapeutics by 1.2% in the third quarter. Vestal Point Capital LP now owns 850,000 shares of the company’s stock valued at $7,684,000 after buying an additional 10,000 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after purchasing an additional 3,627 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

Lexeo Therapeutics Trading Up 2.2 %

Shares of NASDAQ:LXEO traded up $0.18 during trading on Tuesday, reaching $8.41. The stock had a trading volume of 360,520 shares, compared to its average volume of 559,582. The firm’s fifty day moving average is $8.35 and its 200 day moving average is $11.73. The company has a current ratio of 5.95, a quick ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics, Inc. has a 52 week low of $5.77 and a 52 week high of $22.33.

Insider Activity

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the sale, the chief executive officer now directly owns 120,695 shares of the company’s stock, valued at approximately $977,629.50. This represents a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 12,500 shares of company stock valued at $113,300. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on LXEO. 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 note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Chardan Capital lifted their price target on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners cut their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lexeo Therapeutics presently has a consensus rating of “Buy” and an average price target of $23.80.

Lexeo Therapeutics Company 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.