Assenagon Asset Management S.A. Increases Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Assenagon Asset Management S.A. grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 238,522 shares of the biopharmaceutical company's stock after purchasing an additional 26,235 shares during the period. Assenagon Asset Management S.A. owned approximately 0.31% of Xenon Pharmaceuticals worth $9,350,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of XENE. Elmwood Wealth Management Inc. raised its position in Xenon Pharmaceuticals by 44.7% during the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company's stock worth $431,000 after buying an additional 3,400 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Xenon Pharmaceuticals by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company's stock worth $1,953,000 after purchasing an additional 1,755 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Barclays PLC increased its position in Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after purchasing an additional 13,903 shares during the period. Finally, Vestcor Inc purchased a new position in shares of Xenon Pharmaceuticals during the 3rd quarter worth approximately $327,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gary Patou sold 4,891 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were 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 approximately $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Company insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Trading Down 2.8 %

Shares of NASDAQ:XENE traded down $1.10 during midday trading on Friday, hitting $38.52. 469,451 shares of the stock were exchanged, compared to its average volume of 339,229. Xenon Pharmaceuticals Inc. has a twelve month low of $35.53 and a twelve month high of $50.99. The company has a 50 day moving average price of $40.48 and a 200-day moving average price of $40.74.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the previous year, the company posted ($0.73) earnings per share. On average, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on XENE shares. Raymond James restated an "outperform" rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $56.00.

Xenon Pharmaceuticals Company Profile

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.