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Richard Nolan Townsend, the Chief Executive Officer of Lexeo Therapeutics , Inc. (NASDAQ:LXEO), recently sold a portion of his shares in the company. The transaction comes as the stock trades near its 52-week low of $3.84, having declined over 73% in the past year. According to InvestingPro analysis, the company appears undervalued at its current market capitalization of $149 million. According to a filing with the Securities and Exchange Commission, Townsend sold 4,326 shares of common stock on February 19, 2025, at an average price of $4.413 per share. The total value of the transaction amounted to $19,090.
This sale was conducted to cover tax obligations related to the release of restricted stock units. Following the transaction, Townsend retains ownership of 220,119 shares, including 136,562 restricted stock units.
In other recent news, Lexeo Therapeutics has announced the appointment of Dr. Kyle Rasbach as its new Chief Financial Officer. Dr. Rasbach brings a wealth of experience in life sciences and financial management, having previously held positions at Zentalis Pharmaceuticals, Eventide Asset Management, and T. Rowe Price. His appointment comes at a pivotal time as Lexeo Therapeutics prepares for significant advancements in its gene therapy programs. The company is actively developing treatments for cardiovascular diseases and APOE4-associated Alzheimer’s disease. Lexeo’s CEO, R. Nolan Townsend, expressed optimism about Dr. Rasbach’s addition to the team, citing his track record in strategic planning and business development. The company is focusing on a stepwise development approach, supported by early proof-of-concept data. Additionally, Lexeo’s forward-looking statements about its product candidates and clinical trials are subject to risks and uncertainties as outlined in their SEC filings. These developments indicate a strategic move by Lexeo to bolster its financial and operational capabilities as it advances its therapeutic pipeline.
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