Legal & General Group Plc bought a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 73,728 shares of the biopharmaceutical company's stock, valued at approximately $4,450,000. Legal & General Group Plc owned about 0.08% of Xenon Pharmaceuticals at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $454,057,000. Avoro Capital Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 0.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company's stock valued at $243,124,000 after purchasing an additional 24,444 shares during the last quarter. Janus Henderson Group PLC raised its stake in Xenon Pharmaceuticals by 2.3% during the first quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company's stock worth $242,858,000 after acquiring an additional 91,948 shares in the last quarter. Wellington Management Group LLP increased its position in Xenon Pharmaceuticals by 66.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company's stock worth $144,936,000 after purchasing an additional 1,435,096 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Xenon Pharmaceuticals by 7.3% during the fourth quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company's stock worth $153,058,000 after buying an additional 233,466 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently issued reports on XENE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. HC Wainwright restated a "buy" rating and issued a $74.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. 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 research note on Wednesday, May 27th. Royal Bank Of Canada cut their price target on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $77.13.
View Our Latest Report on Xenon Pharmaceuticals
Insider Buying and Selling at Xenon Pharmaceuticals
In other news, Director Steven Gannon sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total transaction of $640,600.00. Following the completion of the transaction, the director directly owned 1,870 shares of the company's stock, valued at $119,792.20. This represents a 84.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Kenney sold 7,068 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $60.25, for a total value of $425,847.00. Following the transaction, the insider directly owned 2 shares of the company's stock, valued at approximately $120.50. This trade represents a 99.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.91% of the stock is currently owned by insiders.
Xenon Pharmaceuticals Trading Down 1.1%
NASDAQ XENE opened at $59.75 on Friday. The firm has a market capitalization of $5.78 billion, a P/E ratio of -12.61 and a beta of 0.61. The business has a fifty day simple moving average of $63.57 and a 200 day simple moving average of $57.01. Xenon Pharmaceuticals Inc. has a 12 month low of $35.60 and a 12 month high of $72.66.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same quarter in the prior year, the business posted ($1.07) earnings per share. As a group, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.
Xenon Pharmaceuticals Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding XENE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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