ADAR1 Capital Management LLC Makes New Investment in Xenon Pharmaceuticals Inc. $XENE

Key Points

• ADAR1 Capital Management bought 166,550 Xenon Pharmaceuticals shares during the second quarter, worth approximately $10.1 million and representing about 0.17% of the company.
• Institutional investors own 95.45% of Xenon’s stock, with BlackRock, Holocene Advisors, Wellington Management, T. Rowe Price, and Vestal Point also increasing or initiating positions.
• Xenon reported a quarterly loss of $1.11 per share, beating estimates by $0.05. Analysts maintain a consensus “Buy” rating with an average price target of $77.13, versus a recent share price of $60.42.

ADAR1 Capital Management LLC bought a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 166,550 shares of the biopharmaceutical company's stock, valued at approximately $10,053,000. ADAR1 Capital Management LLC owned about 0.17% of Xenon Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth about $454,057,000. Holocene Advisors LP purchased a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $56,637,000. Wellington Management Group LLP grew its holdings in Xenon Pharmaceuticals by 66.0% in the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company's stock valued at $144,936,000 after purchasing an additional 1,435,096 shares during the period. Price T Rowe Associates Inc. MD increased its position in Xenon Pharmaceuticals by 1,968.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company's stock worth $38,650,000 after purchasing an additional 820,608 shares during the last quarter. Finally, Vestal Point Capital LP increased its position in Xenon Pharmaceuticals by 53.8% during the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company's stock worth $62,600,000 after purchasing an additional 700,000 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $60.42 on Wednesday. Xenon Pharmaceuticals Inc. has a 1-year low of $35.60 and a 1-year high of $72.66. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of -12.75 and a beta of 0.62. The business has a 50-day moving average of $62.65 and a 200-day moving average of $56.05.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same period in the previous year, the company earned ($1.07) EPS. Research analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gillian Cannon sold 1,190 shares of the firm'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 sale, the director directly owned 1,455 shares in the company, valued at $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the sale, the director directly owned 1,870 shares in the company, valued at approximately $119,792.20. The trade was a 84.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,512 shares of company stock valued at $774,088 in the last quarter. Company insiders own 2.91% of the company's stock.

Analyst Ratings Changes

XENE has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective 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 target price on Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $77.13.

About Xenon Pharmaceuticals

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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