ADAR1 Capital Management LLC boosted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 81.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,547 shares of the biopharmaceutical company's stock after buying an additional 22,644 shares during the period. ADAR1 Capital Management LLC owned approximately 0.07% of Xenon Pharmaceuticals worth $1,981,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after acquiring an additional 905,129 shares in the last quarter. FMR LLC lifted its holdings in shares of Xenon Pharmaceuticals by 8.8% in the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock valued at $294,991,000 after purchasing an additional 607,606 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Xenon Pharmaceuticals by 39.0% during the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock valued at $31,421,000 after buying an additional 224,892 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Xenon Pharmaceuticals by 9.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 848,850 shares of the biopharmaceutical company's stock worth $33,275,000 after buying an additional 70,557 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Xenon Pharmaceuticals by 31.0% in the 3rd quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company's stock valued at $10,776,000 after buying an additional 64,800 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Xenon Pharmaceuticals
In other news, CEO Ian Mortimer sold 16,315 shares of the business's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,267,731. The trade was a 34.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.52% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on XENE shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, StockNews.com downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.38.
View Our Latest Stock Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Performance
NASDAQ XENE traded up $0.67 during trading on Friday, hitting $31.40. 970,435 shares of the company's stock traded hands, compared to its average volume of 432,116. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -11.13 and a beta of 1.21. The business has a 50 day moving average of $35.54 and a 200-day moving average of $38.98. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.05. On average, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.
Xenon Pharmaceuticals Company Profile
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Free Report)
Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.
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