Atika Capital Management LLC Has $3.48 Million Stake in Xenon Pharmaceuticals Inc. $XENE

Atika Capital Management LLC reduced its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,900 shares of the biopharmaceutical company's stock after selling 32,606 shares during the period. Atika Capital Management LLC owned approximately 0.06% of Xenon Pharmaceuticals worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $5,342,000. Peregrine Capital Management LLC bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at $7,837,000. Jennison Associates LLC increased its position in shares of Xenon Pharmaceuticals by 13.8% during the 4th quarter. Jennison Associates LLC now owns 1,292,055 shares of the biopharmaceutical company's stock valued at $57,910,000 after purchasing an additional 156,820 shares during the last quarter. NEXTBio Capital Management LP purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at $8,234,000. Finally, DNB Asset Management AS increased its position in shares of Xenon Pharmaceuticals by 9.5% during the 4th quarter. DNB Asset Management AS now owns 272,831 shares of the biopharmaceutical company's stock valued at $12,228,000 after purchasing an additional 23,750 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

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

Xenon Pharmaceuticals Stock Down 1.1%

XENE stock opened at $65.42 on Friday. The stock has a 50-day simple moving average of $58.08 and a two-hundred day simple moving average of $52.53. Xenon Pharmaceuticals Inc. has a twelve month low of $30.00 and a twelve month high of $72.66. The firm has a market capitalization of $6.32 billion, a PE ratio of -13.92 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, meeting the consensus estimate of ($1.17). During the same quarter in the previous year, the firm posted ($0.83) EPS. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gillian Cannon sold 1,190 shares of the business'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 transaction, the director owned 1,455 shares of the company's stock, valued at approximately $77,318.70. The trade was a 44.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Patou sold 1,322 shares of the company'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 completion of the transaction, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.91% of the company's stock.

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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