ADAR1 Capital Management LLC Buys 77,001 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• ADAR1 Capital Management LLC significantly increased its holdings in Xenon Pharmaceuticals Inc. by 152.3%, owning approximately 127,548 shares worth $4.28 million at the latest reporting period.
• Currently, 95.45% of Xenon Pharmaceuticals' stock is held by institutional investors, indicating strong support from the investment community.
• Despite a series of analyst ratings affirming a "buy" consensus on the stock, Xenon reported an earnings per share of ($1.07), missing the consensus estimate of ($1.03).

ADAR1 Capital Management LLC lifted its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 152.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,548 shares of the biopharmaceutical company's stock after buying an additional 77,001 shares during the period. ADAR1 Capital Management LLC owned about 0.17% of Xenon Pharmaceuticals worth $4,279,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in XENE. Vestal Point Capital LP increased its position in shares of Xenon Pharmaceuticals by 60.5% in the first quarter. Vestal Point Capital LP now owns 1,300,000 shares of the biopharmaceutical company's stock valued at $43,615,000 after acquiring an additional 490,000 shares during the last quarter. Birchview Capital LP raised its stake in Xenon Pharmaceuticals by 110.0% in the first quarter. Birchview Capital LP now owns 21,000 shares of the biopharmaceutical company's stock valued at $705,000 after buying an additional 11,000 shares during the period. MPM Bioimpact LLC lifted its stake in shares of Xenon Pharmaceuticals by 53.8% during the 1st quarter. MPM Bioimpact LLC now owns 303,398 shares of the biopharmaceutical company's stock worth $10,179,000 after buying an additional 106,186 shares during the last quarter. Vident Advisory LLC boosted its holdings in shares of Xenon Pharmaceuticals by 21.4% during the first quarter. Vident Advisory LLC now owns 6,574 shares of the biopharmaceutical company's stock worth $221,000 after acquiring an additional 1,161 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in Xenon Pharmaceuticals by 1.4% in the 1st quarter. Driehaus Capital Management LLC now owns 4,584,859 shares of the biopharmaceutical company's stock valued at $153,822,000 after purchasing an additional 64,264 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Up 1.5%

Shares of Xenon Pharmaceuticals stock traded up $0.57 during trading hours on Friday, reaching $39.21. The company's stock had a trading volume of 646,087 shares, compared to its average volume of 803,703. The stock's fifty day simple moving average is $34.52 and its two-hundred day simple moving average is $33.96. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same period in the prior year, the business posted ($0.75) EPS. On average, equities research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Chardan Capital reissued a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday. Wells Fargo & Company began coverage on Xenon Pharmaceuticals in a report on Wednesday. They set an "overweight" rating and a $48.00 price objective on the stock. Wedbush boosted their target price on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $53.30.

About Xenon Pharmaceuticals

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.