Lexeo Therapeutics (NASDAQ:LXEO) Upgraded to Strong-Buy at Chardan Capital

Lexeo Therapeutics (NASDAQ:LXEO) was upgraded by stock analysts at Chardan Capital to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on LXEO. Wall Street Zen raised shares of Lexeo Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of Lexeo Therapeutics from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, June 25th. Finally, Weiss Ratings raised Lexeo Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Lexeo Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $18.75.

Lexeo Therapeutics Price Performance

Shares of Lexeo Therapeutics stock opened at $4.35 on Tuesday. Lexeo Therapeutics has a 1 year low of $4.03 and a 1 year high of $10.99. The company has a market capitalization of $341.57 million, a P/E ratio of -3.00 and a beta of 1.42. The business has a 50-day moving average of $4.71 and a two-hundred day moving average of $5.84.

Lexeo Therapeutics (NASDAQ:LXEO) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. On average, equities analysts anticipate that Lexeo Therapeutics will post -1.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 25,947 shares of Lexeo Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $4.48, for a total value of $116,242.56. Following the sale, the chief executive officer directly owned 377,817 shares in the company, valued at approximately $1,692,620.16. The trade was a 6.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Narinder Pal Bhalla sold 22,306 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $4.42, for a total transaction of $98,592.52. Following the sale, the insider directly owned 82,194 shares in the company, valued at $363,297.48. This trade represents a 21.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 62,204 shares of company stock worth $280,089. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP increased its position in shares of Lexeo Therapeutics by 1,002.9% in the fourth quarter. Allworth Financial LP now owns 3,386 shares of the company’s stock valued at $34,000 after acquiring an additional 3,079 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Lexeo Therapeutics by 69.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,547 shares of the company’s stock valued at $35,000 after purchasing an additional 1,459 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Lexeo Therapeutics during the fourth quarter valued at approximately $37,000. California State Teachers Retirement System grew its stake in Lexeo Therapeutics by 123.7% in the fourth quarter. California State Teachers Retirement System now owns 3,884 shares of the company’s stock valued at $39,000 after purchasing an additional 2,148 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in Lexeo Therapeutics in the second quarter valued at approximately $50,000. Institutional investors own 60.67% of the company’s stock.

Lexeo Therapeutics Company Profile

Lexeo Therapeutics, Inc is a clinical‐stage biotechnology company dedicated to developing novel, precision‐designed therapies for central nervous system disorders. The company’s research platform leverages advanced medicinal chemistry to create next‐generation psychedelic-inspired compounds aimed at treating a range of mental health conditions, including anxiety, depression and substance use disorders.

The company’s pipeline features proprietary synthetic molecules engineered to target specific neural pathways while improving safety and tolerability profiles over traditional treatments.