Ally Bridge Group NY LLC Trims Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Ally Bridge Group NY LLC reduced its position in Xenon Pharmaceuticals by 46.2% during the first quarter, now holding 69,603 shares worth approximately $2.34 million.
• Xenon Pharmaceuticals reported a quarterly earnings per share of ($1.07), missing analysts' expectations and indicating a significant decline from ($0.75) EPS in the previous year.
• Analysts generally have a positive outlook for Xenon Pharmaceuticals, with an average price target of $53.20 and a majority rating the stock as a "Buy."

Ally Bridge Group NY LLC cut its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 46.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,603 shares of the biopharmaceutical company's stock after selling 59,688 shares during the period. Xenon Pharmaceuticals comprises 2.1% of Ally Bridge Group NY LLC's portfolio, making the stock its 18th largest holding. Ally Bridge Group NY LLC owned approximately 0.09% of Xenon Pharmaceuticals worth $2,335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the first quarter valued at $30,000. GF Fund Management CO. LTD. bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth about $63,000. Vident Advisory LLC bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth about $212,000. Tema Etfs LLC bought a new stake in Xenon Pharmaceuticals during the 4th quarter valued at about $240,000. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals during the 1st quarter valued at about $298,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $39.30 on Wednesday. The company has a fifty day moving average of $34.11 and a two-hundred day moving average of $33.93. The stock has a market capitalization of $3.03 billion, a PE ratio of -11.07 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data 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. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on XENE. Wells Fargo & Company reduced their price target on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Evercore ISI initiated coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price 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 research report on Tuesday, August 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday. Finally, HC Wainwright reissued a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Xenon Pharmaceuticals has an average rating of "Buy" and an average price target of $53.20.

Xenon Pharmaceuticals Company Profile

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.

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