Vestal Point Capital LP Has $32.48 Million Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Vestal Point Capital LP increased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 57.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 825,000 shares of the biopharmaceutical company's stock after acquiring an additional 300,000 shares during the period. Xenon Pharmaceuticals comprises approximately 2.5% of Vestal Point Capital LP's holdings, making the stock its 16th largest holding. Vestal Point Capital LP owned approximately 1.09% of Xenon Pharmaceuticals worth $32,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 purchasing an additional 487 shares during the last quarter. California State Teachers Retirement System grew its holdings in Xenon Pharmaceuticals by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company's stock worth $2,431,000 after acquiring an additional 490 shares during the last quarter. Advisors Asset Management Inc. increased its position in Xenon Pharmaceuticals by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company's stock valued at $535,000 after acquiring an additional 493 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Xenon Pharmaceuticals by 174.7% in 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 during the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Xenon Pharmaceuticals by 4.0% during the second quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company's stock worth $700,000 after purchasing an additional 688 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares of the company's stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock traded down $0.52 on Friday, hitting $42.63. The company had a trading volume of 240,694 shares, compared to its average volume of 389,375. The stock has a 50-day moving average of $41.42 and a 200-day moving average of $40.24. Xenon Pharmaceuticals Inc. has a twelve month low of $35.18 and a twelve month high of $50.99. The firm has a market capitalization of $3.25 billion, a P/E ratio of -15.30 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.82) by $0.01. During the same period in the prior year, the firm posted ($0.73) EPS. Equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. HC Wainwright reiterated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Needham & Company LLC reissued a "buy" rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Raymond James reaffirmed an "outperform" rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $57.45.

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.