ExodusPoint Capital Management LP lowered its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 73.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,884 shares of the biopharmaceutical company's stock after selling 193,747 shares during the period. ExodusPoint Capital Management LP owned about 0.09% of Xenon Pharmaceuticals worth $2,700,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its position in Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock worth $95,000 after buying an additional 1,414 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $101,000. KBC Group NV raised its position in Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after purchasing an additional 780 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Xenon Pharmaceuticals during the 4th quarter worth $210,000. Finally, HighMark Wealth Management LLC boosted its stake in Xenon Pharmaceuticals by 22.0% during the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock worth $239,000 after purchasing an additional 1,100 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have commented on XENE. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating and a $67.00 price objective for the company. StockNews.com lowered shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, April 6th. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $57.38.
Read Our Latest Stock Analysis on Xenon Pharmaceuticals
Insider Activity
In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares of the company's stock, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.52% of the company's stock.
Xenon Pharmaceuticals Stock Performance
NASDAQ XENE traded up $0.67 during mid-day trading on Friday, reaching $31.40. 970,435 shares of the stock were exchanged, compared to its average volume of 432,116. The stock has a market capitalization of $2.40 billion, a PE ratio of -11.13 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The business's fifty day simple moving average is $35.54 and its 200 day simple moving average is $38.98.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.05. On average, analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.
About Xenon Pharmaceuticals
(
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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