Allspring Global Investments Holdings LLC Takes $13.96 Million Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Allspring Global Investments bought a new stake in Xenon Pharmaceuticals during the first quarter, acquiring 246,306 shares worth about $14.0 million and representing roughly 0.25% of the company.
• Insider selling was also reported, with directors Gary Patou and Gillian Cannon both selling shares on June 5; combined, the two sales totaled more than $133,000.
• Xenon shares were up 1.1% to $66.74, while analysts remain broadly positive with a Buy consensus and an average price target of $77.20.

Allspring Global Investments Holdings LLC acquired a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 246,306 shares of the biopharmaceutical company's stock, valued at approximately $13,963,000. Allspring Global Investments Holdings LLC owned about 0.25% of Xenon Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XENE. Danske Bank A S purchased a new position in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $32,000. Blue Trust Inc. lifted its stake in shares of Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 717 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth $33,000. Osaic Holdings Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 1,034 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 24,896 shares of the company's stock, valued at $1,322,973.44. This represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. 2.91% of the stock is currently owned by company insiders.

Xenon Pharmaceuticals Stock Up 1.1%

XENE opened at $66.74 on Wednesday. Xenon Pharmaceuticals Inc. has a 52-week low of $30.00 and a 52-week high of $72.66. The company has a 50 day moving average of $57.68 and a two-hundred day moving average of $52.23. The company has a market cap of $6.45 billion, a P/E ratio of -14.20 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.17). During the same quarter in the previous year, the firm earned ($0.83) EPS. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on XENE shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. JPMorgan Chase & Co. increased their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Royal Bank Of Canada raised their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, Needham & Company LLC lowered their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $77.20.

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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