JPMorgan Chase & Co. Increases Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

JPMorgan Chase & Co. raised its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1,263.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 976,783 shares of the biopharmaceutical company's stock after acquiring an additional 905,129 shares during the period. JPMorgan Chase & Co. owned approximately 1.28% of Xenon Pharmaceuticals worth $38,456,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of XENE. Arizona State Retirement System lifted its position in Xenon Pharmaceuticals by 4.0% during the second quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company's stock valued at $700,000 after purchasing an additional 688 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Xenon Pharmaceuticals by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company's stock worth $1,908,000 after acquiring an additional 769 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Xenon Pharmaceuticals by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 436,460 shares of the biopharmaceutical company's stock worth $17,011,000 after acquiring an additional 26,253 shares during the last quarter. Renaissance Technologies LLC raised its position in Xenon Pharmaceuticals by 64.7% during the second quarter. Renaissance Technologies LLC now owns 92,900 shares of the biopharmaceutical company's stock valued at $3,622,000 after purchasing an additional 36,500 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at approximately $464,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Up 0.5 %

XENE traded up $0.21 on Monday, reaching $40.72. 406,371 shares of the company traded hands, compared to its average volume of 426,890. The company has a market cap of $3.10 billion, a P/E ratio of -14.44 and a beta of 1.20. Xenon Pharmaceuticals Inc. has a one year low of $35.53 and a one year high of $50.99. The firm has a fifty day simple moving average of $41.16 and a two-hundred day simple moving average of $40.61.

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 analysts' consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the business posted ($0.73) earnings per share. On average, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now owns 23,573 shares in the company, valued at $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sherry Aulin sold 18,709 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was 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. Insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals 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.