Fox Run Management L.L.C. reduced its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 56.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,621 shares of the biopharmaceutical company's stock after selling 11,123 shares during the period. Fox Run Management L.L.C.'s holdings in Xenon Pharmaceuticals were worth $338,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after acquiring an additional 1,414 shares during the last quarter. Avior Wealth Management LLC bought a new stake in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $101,000. KBC Group NV boosted its holdings in shares of 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 buying an additional 780 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at $210,000. Finally, HighMark Wealth Management LLC increased its holdings in Xenon Pharmaceuticals by 22.0% during the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock worth $239,000 after buying an additional 1,100 shares during the last quarter. 95.45% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Ian Mortimer sold 22,468 shares of the company's stock in a transaction on Friday, January 24th. The stock was 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 in the company, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.52% of the company's stock.
Xenon Pharmaceuticals Stock Performance
NASDAQ:XENE traded down $0.20 during mid-day trading on Friday, hitting $34.26. 288,804 shares of the stock were exchanged, compared to its average volume of 394,242. The firm's 50-day simple moving average is $37.72 and its 200 day simple moving average is $39.74. Xenon Pharmaceuticals Inc. has a fifty-two week low of $33.27 and a fifty-two week high of $46.00. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -12.15 and a beta of 1.26.
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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.89) by $0.05. On average, analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have commented on XENE shares. StockNews.com upgraded shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reissued a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.38.
Read Our Latest Stock Analysis on Xenon Pharmaceuticals
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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