Bank of America Corp DE Increases Stock Holdings in Xenon Pharmaceuticals Inc. $XENE

Bank of America Corp DE raised its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,267 shares of the biopharmaceutical company's stock after purchasing an additional 43,899 shares during the period. Bank of America Corp DE owned 0.27% of Xenon Pharmaceuticals worth $15,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in XENE. Kestra Advisory Services LLC purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $33,000. Danske Bank A S purchased a new stake in Xenon Pharmaceuticals in the third quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals during the fourth quarter valued at approximately $43,000. Rockefeller Capital Management L.P. lifted its position in Xenon Pharmaceuticals by 450.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 900 shares during the last quarter. Finally, Clearstead Advisors LLC grew its stake in Xenon Pharmaceuticals by 214.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,215 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 829 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Trading Down 4.2%

NASDAQ XENE opened at $59.73 on Friday. The firm has a market cap of $5.77 billion, a PE ratio of -12.60 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a 1-year low of $35.60 and a 1-year high of $72.66. The stock has a 50-day moving average of $62.15 and a 200-day moving average of $55.65.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping analysts' consensus estimates of ($1.16) by $0.05. During the same period in the previous year, the firm earned ($1.07) earnings per share. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on XENE. JPMorgan Chase & Co. increased their price target 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. Needham & Company LLC cut their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada reduced their target price on Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Wall Street Zen upgraded Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $77.13.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, 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 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 filing with the SEC, which is available at this link. Also, Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Tuesday, August 11th. The shares were 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. In the last 90 days, insiders sold 12,512 shares of company stock worth $774,088. 2.91% of the stock is currently owned by company insiders.

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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