Wellington Management Group LLP trimmed its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,777,611 shares of the biopharmaceutical company's stock after selling 65,836 shares during the period. Wellington Management Group LLP owned approximately 4.94% of Xenon Pharmaceuticals worth $148,082,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in XENE. Blue Trust Inc. lifted its holdings in 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 acquiring an additional 1,414 shares during the period. Avior Wealth Management LLC acquired a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $101,000. KBC Group NV boosted its holdings in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock worth $107,000 after buying an additional 780 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Xenon Pharmaceuticals during the fourth quarter valued at $210,000. Finally, HighMark Wealth Management LLC increased its holdings in 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 buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.
Insider Buying and Selling
In related news, CEO Ian Mortimer sold 16,315 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the sale, the chief executive officer now owns 31,302 shares of the company's stock, valued at $1,267,731. This trade represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.52% of the stock is currently owned by insiders.
Xenon Pharmaceuticals Price Performance
Shares of NASDAQ XENE traded up $0.35 during midday trading on Tuesday, hitting $30.98. The company's stock had a trading volume of 353,455 shares, compared to its average volume of 413,542. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -11.01 and a beta of 1.21. The business's fifty day simple moving average is $36.71 and its two-hundred day simple moving average is $39.35. Xenon Pharmaceuticals Inc. has a 1 year low of $27.56 and a 1 year high of $46.00.
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, beating the consensus estimate of ($0.89) by $0.05. Analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have commented on XENE. StockNews.com lowered Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday. HC Wainwright reissued a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.38.
Get Our Latest Research Report on XENE
Xenon Pharmaceuticals Profile
(
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.
Read More
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
