Narinder Pal Bhalla, the Chief Medical Officer at Lexeo Therapeutics, Inc. (NASDAQ:LXEO), completed the sale of 22,306 shares of common stock on July 1, 2026. The aggregate value of this transaction reached $98,592. The shares were divested at a weighted average price of $4.42, with individual transaction prices varying between $4.341 and $4.73 per share. The primary purpose of this sale was to cover tax obligations linked to the release of performance Restricted Stock Units (RSUs).
This transaction takes place while LXEO shares are trading at approximately $4.45. The stock has experienced a significant decline of 55% over the last six months. According to InvestingPro analysis, current valuation metrics suggest the stock may be undervalued. Analysts have established price targets ranging from $9 to $30 for the company.
Before executing this sale, Mr. Bhalla acquired 55,000 shares of common stock on June 29, 2026. These shares were obtained at a price of $0.00 per share. Following these activities, Mr. Bhalla directly holds 82,194 shares of Lexeo Therapeutics common stock. This total includes 49,500 Restricted Stock Units, which represent contingent rights to receive one share of common stock each.
Lexeo Therapeutics has reported advancements in its gene therapy research for Friedreich ataxia. The company published results from Phase I/II studies of its gene therapy LX2006 in JAMA Cardiology. These studies involved 17 participants who received a one-hour intravenous infusion and were monitored over a period of 6 to 36 months.
Lexeo has also finalized the protocol and statistical analysis plan for its SUNRISE-FA 2 pivotal trial. This trial will enroll 13 participants aged 16 years and older to receive a single intravenous administration of LX2006. The trial will compare these participants with 13 untreated control participants, without using a placebo or sham procedure.
Raymond James has reiterated a Strong Buy rating for Lexeo stock, maintaining a $25 price target. This follows Lexeo's submission of the final trial design and statistical analysis plan for the SUNRISE-FA 2 study after a Type B meeting with the FDA. The company is currently awaiting final FDA feedback on this pivotal trial protocol.
These developments highlight Lexeo's ongoing efforts in advancing its gene therapy treatments.