Lexeo Therapeutics, Inc. (NASDAQ:LXEO) Short Interest Update

Lexeo Therapeutics, Inc. (NASDAQ:LXEO - Get Free Report) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,240,000 shares, a decrease of 36.1% from the August 15th total of 1,940,000 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 303,700 shares, the short-interest ratio is presently 4.1 days.

Lexeo Therapeutics Stock Down 2.0 %

Shares of LXEO traded down $0.20 on Friday, reaching $9.67. The company's stock had a trading volume of 158,633 shares, compared to its average volume of 186,806. Lexeo Therapeutics has a twelve month low of $9.00 and a twelve month high of $22.33. The stock has a market capitalization of $318.58 million and a PE ratio of -0.43. 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 firm has a fifty day moving average of $12.21 and a 200-day moving average of $13.85.

Lexeo Therapeutics (NASDAQ:LXEO - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.64) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.64). Equities analysts predict that Lexeo Therapeutics will post -2.74 EPS for the current year.

Analyst Upgrades and Downgrades

LXEO has been the topic of several analyst reports. HC Wainwright reduced their target price on Lexeo Therapeutics from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Baird R W upgraded Lexeo Therapeutics to a "strong-buy" rating in a report on Thursday, June 13th. Chardan Capital reiterated a "buy" rating and issued a $23.00 price objective on shares of Lexeo Therapeutics in a research note on Wednesday, August 14th. Robert W. Baird assumed coverage on shares of Lexeo Therapeutics in a research note on Thursday, June 13th. They set an "outperform" rating and a $28.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $24.00 price target on shares of Lexeo Therapeutics in a research note on Tuesday, August 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $22.14.

View Our Latest Report on LXEO

Insider Activity

In related news, CEO Richard Nolan Townsend sold 26,969 shares of the firm's stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $16.50, for a total value of $444,988.50. Following the completion of the transaction, the chief executive officer now owns 148,726 shares in the company, valued at approximately $2,453,979. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 36,969 shares of company stock worth $555,889. Insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Lexeo Therapeutics

Hedge funds have recently bought and sold shares of the company. Eventide Asset Management LLC purchased a new position in Lexeo Therapeutics during the fourth quarter worth about $40,298,000. Omega Fund Management LLC bought a new position in shares of Lexeo Therapeutics in the fourth quarter valued at approximately $28,955,000. Blackstone Inc. bought a new position in shares of Lexeo Therapeutics in the fourth quarter valued at approximately $9,342,000. RA Capital Management L.P. purchased a new stake in shares of Lexeo Therapeutics during the first quarter valued at approximately $10,364,000. Finally, Janus Henderson Group PLC lifted its holdings in Lexeo Therapeutics by 9.0% during the first quarter. Janus Henderson Group PLC now owns 2,540,785 shares of the company's stock worth $39,802,000 after acquiring an additional 210,047 shares during the period. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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