26,200 Shares in Xenon Pharmaceuticals Inc. $XENE Bought by Swedbank AB

Key Points

• Swedbank AB initiated a new position in Xenon Pharmaceuticals in the first quarter, buying 26,200 shares valued at about $1.52 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 95.45% of the company’s stock. Several firms, including Goldman Sachs and Alliancebernstein, also increased their stakes recently.
• Shares of Xenon Pharmaceuticals traded down 2.9% to $68.92, while analysts remain broadly positive with an average "Buy" rating and a $77.20 average price target.

Swedbank AB acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 26,200 shares of the biopharmaceutical company's stock, valued at approximately $1,524,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Xenon Pharmaceuticals by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company's stock worth $14,854,000 after acquiring an additional 32,486 shares during the last quarter. Jump Financial LLC acquired a new stake in Xenon Pharmaceuticals in the second quarter worth $532,000. Sei Investments Co. bought a new position in shares of Xenon Pharmaceuticals during the second quarter worth $711,000. The Manufacturers Life Insurance Company acquired a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at $816,000. Finally, Alliancebernstein L.P. increased its position in shares of Xenon Pharmaceuticals by 14.2% in the 2nd quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company's stock valued at $47,530,000 after buying an additional 189,141 shares in the last quarter. Institutional investors own 95.45% of the company's stock.

Insider Activity

In other news, Director Gillian Cannon sold 1,190 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the completion of the transaction, the director directly owned 1,455 shares of the company's stock, valued at $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Patou sold 1,322 shares of the business's 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 $70,251.08. Following the completion of the sale, the director owned 24,896 shares in the company, valued at $1,322,973.44. The trade was a 5.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wedbush dropped their price objective on Xenon Pharmaceuticals from $64.00 to $63.00 and set an "outperform" rating on the stock in a research note on Monday, March 16th. Needham & Company LLC decreased their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada increased their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $77.20.

Xenon Pharmaceuticals Stock Down 2.9%

Shares of NASDAQ:XENE traded down $2.04 during midday trading on Friday, reaching $68.92. 1,535,878 shares of the company were exchanged, compared to its average volume of 1,830,298. Xenon Pharmaceuticals Inc. has a fifty-two week low of $30.00 and a fifty-two week high of $72.66. The stock has a fifty day simple moving average of $56.18 and a two-hundred day simple moving average of $51.08. The firm has a market cap of $6.66 billion, a PE ratio of -14.66 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, meeting the consensus estimate of ($1.17). During the same quarter in the prior year, the firm earned ($0.83) earnings per share. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current 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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