Bank of New York Mellon Corp Buys Shares of 421,518 Xenon Pharmaceuticals Inc. $XENE

Key Points

• Bank of New York Mellon purchased 421,518 shares of Xenon Pharmaceuticals worth approximately $25.4 million, acquiring a 0.44% stake. Institutional investors and hedge funds collectively own 95.45% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $77.13, compared with XENE’s recent opening price of $59.99.
• Xenon reported a quarterly loss of $1.11 per share, beating estimates for a $1.16 loss, while company insiders sold 12,512 shares worth approximately $774,000 over the past 90 days.

Bank of New York Mellon Corp purchased a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 421,518 shares of the biopharmaceutical company's stock, valued at approximately $25,443,000. Bank of New York Mellon Corp owned 0.44% of Xenon Pharmaceuticals as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Danske Bank A S bought a new position in shares of Xenon Pharmaceuticals during the 3rd quarter worth about $32,000. Kestra Advisory Services LLC acquired a new stake in Xenon Pharmaceuticals during the fourth quarter worth about $33,000. Osaic Holdings Inc. grew its position in 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 buying an additional 1,034 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Xenon Pharmaceuticals during the fourth quarter valued at about $43,000. Finally, Rockefeller Capital Management L.P. increased its stake 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 acquiring an additional 900 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 Xenon Pharmaceuticals 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 sale, the director directly owned 1,455 shares of the company's stock, valued at approximately $77,318.70. The trade was a 44.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven Gannon sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 1,870 shares in the company, valued at approximately $119,792.20. This trade represents a 84.25% decrease in their position. 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. HC Wainwright reiterated a "buy" rating and issued a $74.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Wells Fargo & Company restated an "overweight" rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Finally, Royal Bank Of Canada decreased their price target on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating on the stock in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $77.13.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $59.99 on Monday. Xenon Pharmaceuticals Inc. has a 1-year low of $35.60 and a 1-year high of $72.66. The business's 50 day moving average is $63.18 and its 200-day moving average is $56.48. The firm has a market cap of $5.80 billion, a P/E ratio of -12.66 and a beta of 0.62.

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

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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