Affinity Asset Advisors LLC Buys 425,000 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Affinity Asset Advisors increased its Xenon Pharmaceuticals stake by 34% in Q1, buying 425,000 more shares and bringing its holdings to 1.675 million shares worth about $97.4 million. Xenon now makes up about 5% of the fund’s portfolio and is its second-largest holding.
• Institutional ownership remains heavy, with 95.45% of Xenon’s stock held by institutions and hedge funds. Several other firms also boosted positions, including Siren L.L.C. and Sei Investments Co.
• Insiders sold shares recently, as directors Gillian Cannon and Gary Patou both trimmed their holdings in early June. Meanwhile, analysts remain broadly positive, with a consensus Buy rating and an average price target of $77.20.

Affinity Asset Advisors LLC lifted its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 34.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,675,000 shares of the biopharmaceutical company's stock after purchasing an additional 425,000 shares during the quarter. Xenon Pharmaceuticals comprises about 5.0% of Affinity Asset Advisors LLC's portfolio, making the stock its 2nd largest holding. Affinity Asset Advisors LLC owned about 1.73% of Xenon Pharmaceuticals worth $97,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Xenon Pharmaceuticals during the first quarter valued at $17,474,000. Siren L.L.C. increased its holdings in Xenon Pharmaceuticals by 62.2% in the 1st quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company's stock worth $76,674,000 after buying an additional 505,803 shares during the period. Sei Investments Co. raised its position in Xenon Pharmaceuticals by 160.8% during the 1st quarter. Sei Investments Co. now owns 114,381 shares of the biopharmaceutical company's stock worth $6,652,000 after buying an additional 70,523 shares during the last quarter. Cetera Investment Advisers purchased a new position in Xenon Pharmaceuticals during the 1st quarter worth approximately $211,000. Finally, First Trust Advisors LP lifted its stake in Xenon Pharmaceuticals by 43.6% during the 1st quarter. First Trust Advisors LP now owns 9,133 shares of the biopharmaceutical company's stock valued at $531,000 after acquiring an additional 2,772 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, Director Gillian Cannon sold 1,190 shares of the stock in a transaction dated Friday, June 5th. The stock was 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 in the company, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary Patou sold 1,322 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was 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 in the company, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their position. The SEC filing for this sale provides additional information. 2.91% of the stock is currently owned by insiders.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $65.42 on Friday. The firm has a 50 day simple moving average of $58.30 and a 200-day simple moving average of $52.62. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of -13.92 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 1-year low of $30.00 and a 1-year high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, hitting the consensus estimate of ($1.17). During the same quarter in the previous year, the business posted ($0.83) EPS. Equities analysts expect that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Needham & Company LLC lowered their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada raised their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their target price 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. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $69.00 price target on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Two equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $77.20.

Xenon Pharmaceuticals Company 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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