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

Lexeo Therapeutics, Inc. (NASDAQ:LXEO) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 542,900 shares, a drop of 20.7% from the May 15th total of 684,400 shares. Based on an average daily volume of 149,300 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Lexeo Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC bought a new stake in Lexeo Therapeutics during the 4th quarter valued at $40,298,000. Janus Henderson Group PLC raised its stake in shares of 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 in the last quarter. Omega Fund Management LLC acquired a new stake in Lexeo Therapeutics in the fourth quarter worth about $28,955,000. Artal Group S.A. grew its position in Lexeo Therapeutics by 32.9% in the 1st quarter. Artal Group S.A. now owns 801,716 shares of the company’s stock valued at $12,571,000 after buying an additional 198,281 shares in the last quarter. Finally, Blackstone Inc. bought a new position in Lexeo Therapeutics in the 4th quarter valued at about $9,342,000. 60.67% of the stock is currently owned by institutional investors.

Lexeo Therapeutics Stock Performance

NASDAQ:LXEO traded down $1.38 during trading hours on Friday, reaching $17.38. 143,261 shares of the stock were exchanged, compared to its average volume of 174,495. Lexeo Therapeutics has a 52 week low of $9.00 and a 52 week high of $22.33. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $572.50 million and a P/E ratio of -0.78. The firm has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $14.78.

Lexeo Therapeutics (NASDAQ:LXEO) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.01). As a group, sell-side analysts forecast that Lexeo Therapeutics will post -2.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LXEO has been the subject of a number of recent research reports. HC Wainwright assumed coverage on Lexeo Therapeutics in a research note on Thursday, June 6th. They issued a “buy” rating and a $22.00 target price for the company. Robert W. Baird initiated coverage on shares of Lexeo Therapeutics in a research report on Thursday. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, Baird R W upgraded shares of Lexeo Therapeutics to a “strong-buy” rating in a research note on Thursday. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $22.00.

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.