Inclusion Criteria:  Females may be enrolled if all 3 of the following criteria are met: They are not pregnant; They are not breastfeeding; and They do not plan on becoming pregnant during the study; Have underlying heterozygous familial hypercholesterolemia (HeFH) and/or a history of established ASCVD with additional risk factors Are on maximally tolerated lipid-modifying therapy, including a maximally tolerated statin, at a stable dose for at least 4 weeks prior to Screening Atorvastatin 40 or 80 mg; or Rosuvastatin 20 or 40 mg; Fasting serum LDL-C ≥70 and < 100 mg/dL (≥1.8 and <2.6 mmol/L) at Screening; Fasting triglyceride (TG) < 400 mg/dL (<4.52 mmol/L) at Screening; and Have an estimated glomerular filtration rate (eGFR) ≥30 mL/min at Screening  Exclusion Criteria:  New York Heart Association class IV heart failure or last known left ventricular ejection fraction < 25%; Major adverse cardiac event (MACE) within 3 months prior to Randomization; Uncontrolled severe hypertension, defined as either systolic blood pressure ≥ 160 mmHg or diastolic blood pressure ≥100 mmHg prior to Randomization; Formal diagnosis of homozygous familial hypercholesterolemia (HoFH); Active liver disease; HbA1c ≥10% at Screening; Thyroid-stimulating hormone >1.5 X upper limit of normal (ULN) at Screening; Creatine kinase 3 X upper limit of normal (ULN) at Screening; History of malignancy that required surgery (excluding local and wide local excision), radiation therapy, and/or systemic therapy during the 3 years prior to Randomization; Known history of alcohol and/or drug abuse within 5 years prior to Screening; Received treatment with other investigational products or devices within 30 days of Screening or 5 half-lives of the previous investigational product, whichever is longer; Planned use of other investigational products or devices during the course of the study; Participated in any clinical trial evaluating obicetrapib; or Known allergy or hypersensitivity to obicetrapib, placebo, or any of the excipients in obicetrapib or placebo Any condition that, according to the Investigator, could interfere with the conduct of the study