Franklin Resources Inc. increased its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 575,590 shares of the biopharmaceutical company's stock after buying an additional 9,675 shares during the period. Franklin Resources Inc. owned about 0.75% of Xenon Pharmaceuticals worth $22,563,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of XENE. Blue Trust Inc. raised its holdings in Xenon Pharmaceuticals by 140.3% in the 4th 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 purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $101,000. KBC Group NV increased its stake in Xenon Pharmaceuticals by 39.8% in the fourth 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 purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth about $210,000. Finally, HighMark Wealth Management LLC boosted its stake in Xenon Pharmaceuticals by 22.0% in the 4th 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. Hedge funds and other institutional investors own 95.45% of the company's stock.
Insider Buying and Selling at Xenon Pharmaceuticals
In other news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred 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 transaction, 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 filing with the SEC, which can be accessed through this hyperlink. 5.52% of the stock is currently owned by corporate insiders.
Xenon Pharmaceuticals Stock Performance
Shares of NASDAQ:XENE traded up $0.67 during mid-day trading on Friday, hitting $31.40. 970,435 shares of the company traded hands, compared to its average volume of 432,116. The firm's 50 day simple moving average is $35.54 and its 200 day simple moving average is $38.98. The firm has a market cap of $2.40 billion, a P/E ratio of -11.13 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 posted its quarterly earnings data 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. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently weighed in on XENE shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price objective on the stock. StockNews.com downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. HC Wainwright reissued a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Xenon Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $57.38.
View Our Latest Stock Analysis on XENE
Xenon Pharmaceuticals Company Profile
(
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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