JPMorgan Chase & Co. Raises Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

JPMorgan Chase & Co. increased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,356,895 shares of the biopharmaceutical company's stock after purchasing an additional 380,112 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.78% of Xenon Pharmaceuticals worth $53,190,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in XENE. Jennison Associates LLC lifted its stake in Xenon Pharmaceuticals by 39.0% during the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company's stock worth $31,421,000 after purchasing an additional 224,892 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Xenon Pharmaceuticals by 9.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 848,850 shares of the biopharmaceutical company's stock worth $33,275,000 after purchasing an additional 70,557 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Xenon Pharmaceuticals by 31.0% during the third quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company's stock worth $10,776,000 after purchasing an additional 64,800 shares during the last quarter. abrdn plc lifted its stake in Xenon Pharmaceuticals by 14.3% during the fourth quarter. abrdn plc now owns 283,899 shares of the biopharmaceutical company's stock worth $11,129,000 after purchasing an additional 35,588 shares during the last quarter. Finally, State Street Corp lifted its stake in Xenon Pharmaceuticals by 13.2% during the third quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock worth $11,004,000 after purchasing an additional 32,701 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

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Xenon Pharmaceuticals Stock Down 5.4 %

XENE stock traded down $1.71 on Thursday, reaching $29.88. 151,691 shares of the company's stock were exchanged, compared to its average volume of 534,546. The stock has a fifty day moving average of $35.89 and a 200-day moving average of $39.08. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The firm has a market cap of $2.29 billion, a PE ratio of -10.60 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts' consensus estimates of ($0.89) by $0.05. On average, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on XENE. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. StockNews.com cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, HC Wainwright reiterated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $57.38.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the business'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 sale, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.52% of the stock is currently owned by corporate 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.