Capital World Investors Sells 387,000 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Capital World Investors reduced its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,294,537 shares of the biopharmaceutical company's stock after selling 387,000 shares during the period. Capital World Investors owned about 3.01% of Xenon Pharmaceuticals worth $89,946,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in Xenon Pharmaceuticals by 177.7% in the 4th quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock worth $1,529,000 after purchasing an additional 24,956 shares during the last quarter. JPMorgan Chase & Co. increased its position in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after purchasing an additional 905,129 shares during the last quarter. Barclays PLC increased its position in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after purchasing an additional 13,903 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after purchasing an additional 26,235 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Xenon Pharmaceuticals by 13.2% during the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock valued at $11,004,000 after acquiring an additional 32,701 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,267,731. This trade represents a 34.26 % decrease in their position. The sale 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.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on XENE shares. HC Wainwright reissued a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price objective on the stock. StockNews.com raised Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday. Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.78.

Xenon Pharmaceuticals Trading Down 1.5 %

XENE traded down $0.58 during midday trading on Friday, reaching $37.62. The company's stock had a trading volume of 436,004 shares, compared to its average volume of 444,471. The stock has a market cap of $2.88 billion, a P/E ratio of -13.34 and a beta of 1.21. The company has a fifty day simple moving average of $34.80 and a 200 day simple moving average of $38.66. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00.

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

Xenon Pharmaceuticals 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.