Braidwell LP Sells 653,704 Shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Braidwell LP cut its holdings in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 47.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728,777 shares of the company’s stock after selling 653,704 shares during the quarter. Braidwell LP owned approximately 2.20% of Lexeo Therapeutics worth $6,588,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LXEO. BNP Paribas Financial Markets increased its position 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 valued at $50,000 after acquiring an additional 3,591 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Lexeo Therapeutics during the 3rd quarter worth approximately $67,000. American International Group Inc. bought a new stake in shares of Lexeo Therapeutics during the 1st quarter worth approximately $79,000. MetLife Investment Management LLC boosted its holdings in shares of Lexeo Therapeutics by 121.5% in the 3rd quarter. MetLife Investment Management LLC now owns 14,223 shares of the company’s stock valued at $129,000 after buying an additional 7,803 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Lexeo Therapeutics by 37.3% in the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock valued at $214,000 after buying an additional 3,627 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Richard Nolan Townsend sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were 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 of the company’s stock, valued at approximately $977,629.50. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 12,500 shares of company stock valued at $113,300. Insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. HC Wainwright increased their price target on shares of 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 reiterated an “outperform” rating and issued a $24.00 target price on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Chardan Capital boosted their price target on Lexeo Therapeutics from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Leerink Partners cut their price objective on Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, November 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 company presently has an average rating of “Buy” and an average target price of $23.80.

Lexeo Therapeutics Trading Up 6.8 %

Shares of LXEO stock opened at $7.83 on Friday. Lexeo Therapeutics, Inc. has a 12-month low of $5.77 and a 12-month high of $22.33. The company has a market capitalization of $258.94 million and a PE ratio of -2.48. The firm has a 50 day moving average price of $8.43 and a two-hundred day moving average price of $11.83. The company has a quick ratio of 5.95, a current ratio of 5.95 and a debt-to-equity ratio of 0.01.

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.