Two Sigma Advisers LP Buys 64,800 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Two Sigma Advisers LP increased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 31.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,700 shares of the biopharmaceutical company's stock after acquiring an additional 64,800 shares during the period. Two Sigma Advisers LP owned approximately 0.36% of Xenon Pharmaceuticals worth $10,776,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 641 shares in the last quarter. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals during the third quarter worth about $102,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company's stock worth $106,000 after acquiring an additional 487 shares in the last quarter. Quarry LP boosted its stake in Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock worth $156,000 after acquiring an additional 2,700 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Xenon Pharmaceuticals during the second quarter worth about $464,000. Institutional investors own 95.45% of the company's stock.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, November 22nd. The shares were 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 trade represents a 17.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XENE. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Royal Bank of Canada reissued an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. HC Wainwright reissued a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. William Blair raised shares of Xenon Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. Finally, Raymond James reaffirmed an "outperform" rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $56.90.

Xenon Pharmaceuticals Stock Down 0.4 %

Shares of XENE stock traded down $0.17 on Tuesday, hitting $41.88. 267,169 shares of the stock traded hands, compared to its average volume of 387,803. Xenon Pharmaceuticals Inc. has a 52 week low of $35.53 and a 52 week high of $50.99. The firm has a 50 day simple moving average of $41.86 and a two-hundred day simple moving average of $40.36.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the company earned ($0.73) EPS. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

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.