Commodore Capital LP Has $108.41 Million Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Commodore Capital LP trimmed its stake in Xenon by 10.7% to 2,700,000 shares — a position worth approximately $108.41 million that represents 5.3% of the fund’s portfolio and is its third-largest holding.
• Xenon completed the X‑TOLE2 Phase‑3 study for XEN1101 and closed an upsized public offering that raised about $747.5M, while multiple brokers raised price targets and the consensus rating remains "Buy" (average target ~$71.94), supporting near-term demand.
• At the same time, insiders have sold substantial stock (336,707 shares sold in the last quarter, including sales by the CEO), and the large share issuance increases dilution risk that could pressure near‑term per‑share metrics despite improved cash runway.

Commodore Capital LP trimmed its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,700,000 shares of the biopharmaceutical company's stock after selling 325,000 shares during the quarter. Xenon Pharmaceuticals comprises 5.3% of Commodore Capital LP's portfolio, making the stock its 3rd biggest holding. Commodore Capital LP owned 3.49% of Xenon Pharmaceuticals worth $108,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boothbay Fund Management LLC bought a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth about $1,159,000. Alliancebernstein L.P. increased its holdings in shares of Xenon Pharmaceuticals by 8.9% during the 3rd quarter. Alliancebernstein L.P. now owns 1,654,417 shares of the biopharmaceutical company's stock valued at $66,425,000 after acquiring an additional 135,890 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Xenon Pharmaceuticals by 20.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 12,652 shares of the biopharmaceutical company's stock valued at $508,000 after acquiring an additional 2,114 shares in the last quarter. Creative Planning bought a new position in shares of Xenon Pharmaceuticals in the 3rd quarter valued at approximately $530,000. Finally, Raymond James Financial Inc. lifted its holdings in Xenon Pharmaceuticals by 7.2% in the 3rd quarter. Raymond James Financial Inc. now owns 69,922 shares of the biopharmaceutical company's stock worth $2,807,000 after purchasing an additional 4,708 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Down 4.6%

Shares of NASDAQ:XENE opened at $55.23 on Friday. The company has a market cap of $4.59 billion, a price-to-earnings ratio of -12.67 and a beta of 0.91. The business has a 50 day moving average price of $43.71 and a 200 day moving average price of $41.94. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same period in the prior year, the company earned ($0.84) earnings per share. Analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

More Xenon Pharmaceuticals News

Here are the key news stories impacting Xenon Pharmaceuticals this week:

• Positive Sentiment: Phase‑3 progress — Xenon completed the X‑TOLE2 Phase 3 study, placing XEN1101 (azetukalner) in focus for epilepsy investors and supporting a planned NDA timeline; this derisks the lead program and underpins longer‑term commercial value. Read More.
• Positive Sentiment: Big institutional interest — Reports note major funds increasing exposure (including a ~$200M position cited by The Motley Fool), which can add buying pressure into the stock on further positive catalysts. Read More.
• Positive Sentiment: Balance‑sheet boost — Xenon closed an upsized public offering that raised approximately $747.5M of gross proceeds, extending runway for Phase 3/commercial preparations and reducing near‑term financing risk. Read More.
• Positive Sentiment: Analyst upgrades — Several brokers raised price targets and reiterated Buy/Overweight ratings (Deutsche Bank, HC Wainwright, Wells Fargo and others), which can support short‑term demand. Read More.
• Neutral Sentiment: Model adjustments — HC Wainwright revised multi‑year EPS forecasts (improving FY2028–FY2030 assumptions but nudging FY2027), reflecting evolving commercialization timing; useful for context but subject to change. Read More.
• Neutral Sentiment: Volume and momentum — The stock has seen elevated trading volume following the analyst activity and trial news, which can amplify intraday moves in either direction. Read More.
• Negative Sentiment: Insider selling — CEO Ian Mortimer and several other insiders disclosed large open‑market sales (hundreds of thousands of shares by the CEO), reducing insider ownership and raising optics concerns for some investors. Read More.
• Negative Sentiment: Dilution risk — The sizable share issuance (and initial underwriter option) that funded the ~$747.5M raise increases outstanding shares and can pressure near‑term per‑share metrics despite improving cash runway. Read More.

Insider Transactions at Xenon Pharmaceuticals

In related news, insider Andrea Difabio sold 1,342 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $55.23, for a total transaction of $74,118.66. Following the transaction, the insider owned 7,301 shares of the company's stock, valued at approximately $403,234.23. The trade was a 15.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ian Mortimer sold 7,308 shares of the company's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $55.23, for a total transaction of $403,620.84. Following the transaction, the chief executive officer owned 19,923 shares of the company's stock, valued at approximately $1,100,347.29. The trade was a 26.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 336,707 shares of company stock worth $19,622,565. Insiders own 4.07% of the company's stock.

Analyst Ratings Changes

XENE has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Morgan Stanley set a $97.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, March 9th. Finally, Wells Fargo & Company lifted their target price on shares of Xenon Pharmaceuticals from $49.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $71.94.

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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