Rock Springs Capital Management LP decreased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251,859 shares of the biopharmaceutical company's stock after selling 64,618 shares during the period. Xenon Pharmaceuticals comprises approximately 1.9% of Rock Springs Capital Management LP's investment portfolio, making the stock its 17th largest holding. Rock Springs Capital Management LP owned approximately 1.64% of Xenon Pharmaceuticals worth $49,073,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. 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 position in Xenon Pharmaceuticals during the fourth quarter worth about $101,000. KBC Group NV increased its position in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after acquiring an additional 780 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $210,000. Finally, HighMark Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.
Xenon Pharmaceuticals Stock Performance
Xenon Pharmaceuticals stock traded up $0.61 during midday trading on Thursday, hitting $38.20. 637,044 shares of the company's stock were exchanged, compared to its average volume of 443,256. The firm's 50 day simple moving average is $34.85 and its 200 day simple moving average is $38.72. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -13.55 and a beta of 1.21.
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 for the quarter, topping analysts' consensus estimates of ($0.89) by $0.05. On average, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have issued reports on XENE shares. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. StockNews.com raised Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday. 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. Finally, Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.78.
Get Our Latest Research Report on Xenon Pharmaceuticals
Insider Activity 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 of the company's stock, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.52% of the stock is currently owned by insiders.
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.
Featured Stories
Before you consider Xenon Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Xenon Pharmaceuticals wasn't on the list.
While Xenon Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
