Novo Holdings A S Cuts Stock Holdings in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Novo Holdings A S lowered its position in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 22.6% in the third quarter, Holdings Channel.com reports. The fund owned 1,122,581 shares of the company’s stock after selling 327,919 shares during the quarter. Novo Holdings A S’s holdings in Lexeo Therapeutics were worth $10,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its stake in Lexeo Therapeutics by 9.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company’s stock valued at $39,802,000 after purchasing an additional 210,047 shares during the last quarter. Artal Group S.A. grew its holdings in shares of Lexeo Therapeutics by 32.9% during the first quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock worth $12,571,000 after buying an additional 198,281 shares in the last quarter. RA Capital Management L.P. acquired a new stake in shares of Lexeo Therapeutics in the first quarter valued at about $10,364,000. Vanguard Group Inc. lifted its stake in shares of Lexeo Therapeutics by 15.8% in the first quarter. Vanguard Group Inc. now owns 481,755 shares of the company’s stock worth $7,554,000 after buying an additional 65,573 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Lexeo Therapeutics by 12.3% during the second quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after acquiring an additional 3,483 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HC Wainwright reduced their price objective on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Chardan Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a research note on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price target on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.14.

Insider Activity at Lexeo Therapeutics

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at $977,629.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 15,000 shares of company stock worth $151,400. Insiders own 4.50% of the company’s stock.

Lexeo Therapeutics Stock Performance

NASDAQ LXEO opened at $9.50 on Friday. The stock has a fifty day simple moving average of $10.05 and a 200-day simple moving average of $12.67. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. The stock has a market cap of $314.07 million and a PE ratio of -0.65. Lexeo Therapeutics, Inc. has a twelve month low of $7.86 and a twelve month high of $22.33.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its earnings results on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, hitting the consensus estimate of ($0.64). Equities analysts anticipate that Lexeo Therapeutics, Inc. will post -2.74 earnings per share 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.