Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 24.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 558,500 shares of the biopharmaceutical company's stock after selling 177,700 shares during the period. Federated Hermes Inc. owned 0.73% of Xenon Pharmaceuticals worth $21,893,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of XENE. Prudential Financial Inc. lifted its stake in shares of Xenon Pharmaceuticals by 177.7% during the 4th quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock worth $1,529,000 after purchasing an additional 24,956 shares during the period. JPMorgan Chase & Co. increased its stake in Xenon Pharmaceuticals by 1,263.2% in the third 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 during the last quarter. Barclays PLC lifted its position in Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after buying an additional 13,903 shares during the period. Assenagon Asset Management S.A. boosted its stake in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after buying an additional 26,235 shares during the last quarter. Finally, State Street Corp grew its holdings in Xenon Pharmaceuticals by 13.2% in the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock valued at $11,004,000 after buying an additional 32,701 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday, April 6th. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price target for the company. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.38.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock traded up $1.04 on Monday, hitting $32.44. The stock had a trading volume of 190,440 shares, compared to its average volume of 430,746. The stock's 50 day moving average is $35.54 and its 200-day moving average is $38.98. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -11.50 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. Equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was 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 approximately $1,267,731. This represents a 34.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.52% of the stock is owned by insiders.

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.