26,186 Shares in Xenon Pharmaceuticals Inc. $XENE Acquired by SummitTX Capital L.P.

SummitTX Capital L.P. bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,186 shares of the biopharmaceutical company's stock, valued at approximately $1,523,000.

Several other hedge funds and other institutional investors have also bought and sold shares of XENE. Peregrine Capital Management LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter valued at about $7,837,000. Jennison Associates LLC grew its stake in Xenon Pharmaceuticals by 13.8% in the fourth quarter. Jennison Associates LLC now owns 1,292,055 shares of the biopharmaceutical company's stock valued at $57,910,000 after purchasing an additional 156,820 shares during the last quarter. Siren L.L.C. raised its holdings in Xenon Pharmaceuticals by 62.2% in the first quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company's stock worth $76,674,000 after purchasing an additional 505,803 shares in the last quarter. NEXTBio Capital Management LP bought a new position in Xenon Pharmaceuticals in the fourth quarter worth about $8,234,000. Finally, DNB Asset Management AS raised its holdings in Xenon Pharmaceuticals by 9.5% in the fourth quarter. DNB Asset Management AS now owns 272,831 shares of the biopharmaceutical company's stock worth $12,228,000 after purchasing an additional 23,750 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Insiders Place Their Bets

In other news, Director Gary Patou sold 1,322 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $70,251.08. Following the sale, the director directly owned 24,896 shares of the company's stock, valued at $1,322,973.44. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gillian Cannon sold 1,190 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director owned 1,455 shares of the company's stock, valued at approximately $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.91% of the stock is owned by insiders.

Analyst Ratings Changes

XENE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Royal Bank Of Canada increased their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Finally, Needham & Company LLC lowered their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $77.20.

Xenon Pharmaceuticals Stock Down 2.8%

Shares of Xenon Pharmaceuticals stock opened at $63.10 on Thursday. The company has a 50 day moving average price of $58.93 and a 200 day moving average price of $53.18. The firm has a market capitalization of $6.10 billion, a P/E ratio of -13.43 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 52 week low of $30.00 and a 52 week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($1.17). During the same quarter last year, the business posted ($0.83) EPS. As a group, research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company's research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon's scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company's pipeline comprises multiple preclinical and clinical programs.

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