Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 84.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 777,320 shares of the company’s stock after purchasing an additional 355,928 shares during the quarter. Verition Fund Management LLC’s holdings in Lexeo Therapeutics were worth $7,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in shares of Lexeo Therapeutics by 184.2% in the third quarter. BNP Paribas Financial Markets now owns 5,541 shares of the company’s stock worth $50,000 after buying an additional 3,591 shares during the period. Values First Advisors Inc. acquired a new position in Lexeo Therapeutics in the 3rd quarter worth approximately $67,000. MetLife Investment Management LLC grew its position in Lexeo Therapeutics by 121.5% during the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock worth $129,000 after purchasing an additional 7,803 shares in the last quarter. Rhumbline Advisers raised its stake in Lexeo Therapeutics by 37.3% during the 2nd quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after purchasing an additional 3,627 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 purchasing an additional 3,483 shares in the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Stock Performance

LXEO stock opened at $8.23 on Monday. The company has a market capitalization of $272.13 million and a price-to-earnings ratio of -2.60. The firm has a 50 day moving average of $8.37 and a two-hundred day moving average of $11.76. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01. Lexeo Therapeutics, Inc. has a 12 month low of $5.77 and a 12 month high of $22.33.

Analyst Upgrades and Downgrades

LXEO has been the topic of a number of research analyst reports. Leerink Partners lowered their price target on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Chardan Capital upped their target price on Lexeo Therapeutics from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. HC Wainwright raised their price target on shares of Lexeo Therapeutics from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 price objective on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.80.

Insider Buying and Selling

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 120,695 shares of the company’s stock, valued at $977,629.50. This represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 12,500 shares of company stock worth $113,300. Corporate insiders own 4.50% of the company’s stock.

About Lexeo Therapeutics

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.