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

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

Lexeo Therapeutics Stock Down 0.8 %

NASDAQ:LXEO traded down $0.08 during trading hours on Monday, hitting $9.59. 241,792 shares of the stock traded hands, compared to its average volume of 187,115. The firm has a 50 day moving average price of $12.07 and a 200 day moving average price of $13.79. The firm has a market cap of $315.94 million and a price-to-earnings ratio of -0.43. Lexeo Therapeutics has a fifty-two week low of $9.00 and a fifty-two week high of $22.33. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LXEO. Robert W. Baird started coverage on shares of Lexeo Therapeutics in a research note on Thursday, June 13th. They issued an “outperform” rating and a $28.00 price objective on the stock. Baird R W upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a research report on Thursday, June 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price objective on shares of Lexeo Therapeutics in a research report on Tuesday, August 13th. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Lexeo Therapeutics in a report on Wednesday, August 14th. Finally, HC Wainwright reduced their target price on Lexeo Therapeutics from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lexeo Therapeutics has a consensus rating of “Buy” and an average price target of $22.14.

Insiders Place Their Bets

In other news, CEO Richard Nolan Townsend sold 5,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.53, for a total value of $57,650.00. Following the completion of the transaction, the chief executive officer now directly owns 120,695 shares in the company, valued at $1,391,613.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 36,969 shares of company stock worth $555,889. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lexeo Therapeutics

A number of large investors have recently made changes to their positions in the business. Eventide Asset Management LLC purchased a new position in Lexeo Therapeutics during the fourth quarter valued at approximately $40,298,000. Omega Fund Management LLC purchased a new position in shares of Lexeo Therapeutics during the 4th quarter valued at $28,955,000. Blackstone Inc. acquired a new position in shares of Lexeo Therapeutics in the fourth quarter worth $9,342,000. RA Capital Management L.P. purchased a new stake in shares of Lexeo Therapeutics during the first quarter worth $10,364,000. Finally, Janus Henderson Group PLC boosted its position 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 valued at $39,802,000 after purchasing an additional 210,047 shares during the last quarter. Institutional investors and hedge funds own 60.67% 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.