Pictet Asset Management Holding SA Has $58.66 Million Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Pictet Asset Management Holding SA lowered its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,496,511 shares of the biopharmaceutical company's stock after selling 32,303 shares during the quarter. Pictet Asset Management Holding SA owned 1.96% of Xenon Pharmaceuticals worth $58,663,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. 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 acquiring an additional 905,129 shares during the period. Barclays PLC grew its stake in shares of Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after purchasing an additional 13,903 shares during the period. Walleye Capital LLC acquired a new position in shares of Xenon Pharmaceuticals in the 3rd quarter worth approximately $4,132,000. Assenagon Asset Management S.A. lifted its position in shares of Xenon Pharmaceuticals by 12.4% during 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 period. Finally, State Street Corp boosted its stake 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 in the last quarter. Institutional investors own 95.45% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 22,468 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Trading Up 2.8 %

Xenon Pharmaceuticals stock traded up $0.86 during mid-day trading on Wednesday, hitting $31.50. The stock had a trading volume of 973,195 shares, compared to its average volume of 401,246. The stock has a market capitalization of $2.41 billion, a PE ratio of -11.17 and a beta of 1.26. Xenon Pharmaceuticals Inc. has a 12 month low of $30.38 and a 12 month high of $46.00. The stock has a 50-day simple moving average of $37.45 and a two-hundred day simple moving average of $39.63.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on XENE shares. StockNews.com raised shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.38.

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.