Engineers Gate Manager LP Grows Stock Holdings in Xenon Pharmaceuticals Inc. $XENE

Engineers Gate Manager LP raised its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 566.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,183 shares of the biopharmaceutical company's stock after acquiring an additional 52,857 shares during the quarter. Engineers Gate Manager LP owned about 0.06% of Xenon Pharmaceuticals worth $3,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in XENE. Kestra Advisory Services LLC purchased a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at $33,000. Danske Bank A S purchased a new stake in Xenon Pharmaceuticals during the 3rd quarter worth about $32,000. Global Retirement Partners LLC purchased a new stake in Xenon Pharmaceuticals during the 2nd quarter worth about $53,000. Quantbot Technologies LP bought a new position in Xenon Pharmaceuticals in the 2nd quarter worth about $57,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $43,000. 95.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $74.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Wednesday, May 27th. Royal Bank Of Canada lowered their target price 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. 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 given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $77.13.

Xenon Pharmaceuticals Stock Down 0.3%

NASDAQ:XENE opened at $58.65 on Friday. The business's 50-day moving average price is $63.43 and its two-hundred day moving average price is $57.61. Xenon Pharmaceuticals Inc. has a twelve month low of $35.60 and a twelve month high of $72.66. The stock has a market cap of $5.67 billion, a P/E ratio of -12.37 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same period in the previous year, the business posted ($1.07) EPS. On average, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, insider Christopher Kenney sold 7,068 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $60.25, for a total transaction of $425,847.00. Following the transaction, the insider directly owned 2 shares of the company's stock, valued at approximately $120.50. This trade represents a 99.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Gannon sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the sale, the director owned 1,870 shares of the company's stock, valued at $119,792.20. The trade was a 84.25% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.91% of the company's stock.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc NASDAQ: XENE is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its expertise in ion channels, which regulate the electrical activity of nerve cells, to discover and advance potential treatments for conditions with significant unmet medical needs.

Xenon's leading investigational product is azetukalner (XEN1101), an oral, small-molecule potassium-channel opener being studied in epilepsy, including focal-onset seizures, and major depressive disorder.

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