Geode Capital Management LLC Increases Position in Lexeo Therapeutics, Inc. (NASDAQ:LXEO)

Geode Capital Management LLC increased its stake in shares of Lexeo Therapeutics, Inc. (NASDAQ:LXEO) by 86.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 553,247 shares of the company’s stock after buying an additional 256,635 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Lexeo Therapeutics worth $5,003,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Lexeo Therapeutics by 12.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,806 shares of the company’s stock worth $510,000 after acquiring an additional 3,483 shares during the period. Rhumbline Advisers lifted its holdings in shares of Lexeo Therapeutics by 37.3% during the second quarter. Rhumbline Advisers now owns 13,357 shares of the company’s stock worth $214,000 after purchasing an additional 3,627 shares during the period. Values First Advisors Inc. purchased a new position in Lexeo Therapeutics in the 3rd quarter valued at $67,000. Charles Schwab Investment Management Inc. increased its stake in Lexeo Therapeutics by 107.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,874 shares of the company’s stock valued at $577,000 after buying an additional 33,013 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Lexeo Therapeutics by 184.2% during the 3rd 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 last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Lexeo Therapeutics Price Performance

Shares of NASDAQ:LXEO opened at $7.29 on Friday. The firm has a market capitalization of $241.05 million and a price-to-earnings ratio of -2.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.95 and a quick ratio of 5.95. The business’s 50 day simple moving average is $7.31 and its 200-day simple moving average is $10.21. Lexeo Therapeutics, Inc. has a 12 month low of $5.77 and a 12 month high of $22.33.

Insiders Place Their Bets

In other Lexeo Therapeutics news, CEO Richard Nolan Townsend sold 5,000 shares of Lexeo Therapeutics 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 completion of the transaction, the chief executive officer now owns 120,695 shares in the company, valued at approximately $977,629.50. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 10,000 shares of company stock worth $80,550. 4.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LXEO has been the topic of a number of recent analyst reports. Leerink Partners dropped their price target on shares of Lexeo Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Chardan Capital boosted their target price 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, HC Wainwright raised their price target on Lexeo Therapeutics from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.80.

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.