Russell Investments Group Ltd. Cuts Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Russell Investments Group Ltd. lowered its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,696 shares of the biopharmaceutical company's stock after selling 9,918 shares during the quarter. Russell Investments Group Ltd. owned 0.28% of Xenon Pharmaceuticals worth $8,377,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of XENE. Blue Trust Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after purchasing an additional 1,414 shares during the period. Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth $101,000. KBC Group NV increased its stake 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 buying an additional 780 shares during the period. Magnetar Financial LLC purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at $210,000. Finally, HighMark Wealth Management LLC raised its holdings in shares of Xenon Pharmaceuticals by 22.0% in the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock valued at $239,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating and a $67.00 target price on the stock. StockNews.com downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday. The Goldman Sachs Group lowered their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a report on Thursday. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.78.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE traded up $1.36 during trading on Friday, hitting $35.14. The company's stock had a trading volume of 825,775 shares, compared to its average volume of 436,534. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The company has a market cap of $2.69 billion, a PE ratio of -12.46 and a beta of 1.21. The business's 50 day simple moving average is $35.08 and its 200-day simple moving average is $38.84.

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

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 16,315 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the sale, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,267,731. The trade was a 34.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.52% of the stock is owned by insiders.

About Xenon Pharmaceuticals

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.