Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Connor Clark & Lunn Investment Management acquired 30,354 Xenon Pharmaceuticals shares worth approximately $1.83 million in the second quarter. Institutional investors collectively own 95.45% of XENE.
• Xenon reported a quarterly loss of $1.11 per share, beating the consensus estimate of a $1.16 loss. Analysts expect a full-year loss of $4.73 per share.
• Analysts maintain a generally positive view, with an average “Buy” rating and a $77.13 price target versus the stock’s recent price of $59.99, although insiders sold 12,512 shares worth roughly $774,000 over the past 90 days.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,354 shares of the biopharmaceutical company's stock, valued at approximately $1,832,000.

A number of other large investors have also bought and sold shares of the company. Cinctive Capital Management LP grew its stake in shares of Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company's stock worth $1,045,000 after acquiring an additional 263 shares during the period. State of Wyoming raised its stake in Xenon Pharmaceuticals by 30.4% in the 4th quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 350 shares during the period. Quarry LP raised its stake in Xenon Pharmaceuticals by 25.0% in the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company's stock valued at $100,000 after acquiring an additional 500 shares during the period. Royal Bank of Canada lifted its holdings in Xenon Pharmaceuticals by 0.7% during the first quarter. Royal Bank of Canada now owns 90,387 shares of the biopharmaceutical company's stock valued at $5,255,000 after purchasing an additional 630 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Xenon Pharmaceuticals by 11.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company's stock valued at $295,000 after purchasing an additional 675 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $59.99 on Friday. The firm has a fifty day moving average price of $63.18 and a two-hundred day moving average price of $56.39. The company has a market cap of $5.80 billion, a price-to-earnings ratio of -12.66 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a one year low of $35.60 and a one year high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same quarter in the prior year, the firm posted ($1.07) earnings per share. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XENE. HC Wainwright reiterated a "buy" rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Needham & Company LLC cut their price objective on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a report on Friday, May 8th. Royal Bank Of Canada reduced their price objective on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Two 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 company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $77.13.

Insider Buying and Selling

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 stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the sale, the director owned 1,455 shares of the company's stock, valued at $77,318.70. This trade represents a 44.99% decrease in their position. The transaction was disclosed in a legal 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 dated 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 owned 1,870 shares of the company's stock, 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. Insiders sold a total of 12,512 shares of company stock worth $774,088 over the last ninety days. 2.91% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals 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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