Ally Bridge Group NY LLC raised its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 211,791 shares of the biopharmaceutical company's stock after acquiring an additional 42,422 shares during the period. Xenon Pharmaceuticals makes up 4.5% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 7th biggest holding. Ally Bridge Group NY LLC owned 0.28% of Xenon Pharmaceuticals worth $8,338,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Logos Global Management LP purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $14,621,000. Samlyn Capital LLC lifted its position in Xenon Pharmaceuticals by 61.5% in the second quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company's stock valued at $24,941,000 after purchasing an additional 243,489 shares during the period. Point72 Asset Management L.P. lifted its position in Xenon Pharmaceuticals by 74.7% in the second quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company's stock valued at $18,794,000 after purchasing an additional 206,163 shares during the period. Affinity Asset Advisors LLC boosted its holdings in Xenon Pharmaceuticals by 18.7% in the 2nd quarter. Affinity Asset Advisors LLC now owns 994,227 shares of the biopharmaceutical company's stock valued at $38,765,000 after purchasing an additional 156,840 shares in the last quarter. Finally, FMR LLC increased its position in Xenon Pharmaceuticals by 2.2% during the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company's stock worth $272,349,000 after purchasing an additional 149,511 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Xenon Pharmaceuticals
In other news, Director Gary Patou sold 4,891 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now owns 23,573 shares in the company, valued at $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.52% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on XENE. HC Wainwright reissued a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Royal Bank of Canada restated an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Raymond James reiterated an "outperform" rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Wedbush lowered their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $57.45.
View Our Latest Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Price Performance
NASDAQ:XENE traded up $0.70 during trading hours on Thursday, reaching $43.15. 419,299 shares of the company traded hands, compared to its average volume of 411,194. The firm's 50-day moving average is $41.37 and its 200-day moving average is $40.22. Xenon Pharmaceuticals Inc. has a 1-year low of $33.62 and a 1-year high of $50.99.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts' consensus estimates of ($0.82) by $0.01. During the same period last year, the business posted ($0.73) EPS. On average, analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal 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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