Alliancebernstein L.P. boosted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,443,180 shares of the biopharmaceutical company's stock after purchasing an additional 18,445 shares during the period. Alliancebernstein L.P. owned about 1.89% of Xenon Pharmaceuticals worth $56,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock worth $95,000 after acquiring an additional 1,414 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $101,000. KBC Group NV lifted its holdings in Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock worth $107,000 after buying an additional 780 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $210,000. Finally, HighMark Wealth Management LLC increased its position in shares of Xenon Pharmaceuticals by 22.0% in the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock valued at $239,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.
Insider Activity
In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares of the company's stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.52% of the company's stock.
Analyst Ratings Changes
XENE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report 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. Finally, StockNews.com cut shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $57.38.
Get Our Latest Research Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Price Performance
XENE stock traded down $2.04 during midday trading on Thursday, reaching $29.56. 180,026 shares of the company's stock traded hands, compared to its average volume of 423,720. The business has a 50-day moving average price of $35.89 and a two-hundred day moving average price of $39.08. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The company has a market capitalization of $2.26 billion, a P/E ratio of -10.57 and a beta of 1.21.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05. As a group, research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.
Xenon Pharmaceuticals 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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