MPM Bioimpact LLC Raises Stock Holdings in Xenon Pharmaceuticals Inc. $XENE

Key Points

• MPM Bioimpact LLC increased its stake in Xenon Pharmaceuticals by 53.8% in the first quarter, acquiring an additional 106,186 shares to hold a total of 303,398 shares valued at approximately $10.18 million.
• Other institutional investors, including Northern Trust Corp and Bank of New York Mellon Corp, also significantly enhanced their positions in Xenon Pharmaceuticals, with the latter increasing its stake by a remarkable 439%.
• Xenon Pharmaceuticals reported an earnings loss of ($1.07) per share in its latest quarter, missing analysts' expectations, while having a current consensus rating of "Buy" with a target price of $53.20.

MPM Bioimpact LLC grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,398 shares of the biopharmaceutical company's stock after acquiring an additional 106,186 shares during the quarter. Xenon Pharmaceuticals comprises approximately 1.7% of MPM Bioimpact LLC's portfolio, making the stock its 26th biggest holding. MPM Bioimpact LLC owned approximately 0.40% of Xenon Pharmaceuticals worth $10,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp lifted its position in shares of Xenon Pharmaceuticals by 51.6% in the fourth quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock valued at $2,579,000 after acquiring an additional 22,377 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Xenon Pharmaceuticals by 39.1% in the fourth quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock valued at $3,620,000 after acquiring an additional 25,967 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at $1,636,000. Natixis Advisors LLC lifted its position in shares of Xenon Pharmaceuticals by 1.9% in the first quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after acquiring an additional 456 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Xenon Pharmaceuticals by 439.0% in the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock valued at $8,426,000 after purchasing an additional 204,550 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ XENE opened at $38.71 on Tuesday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -10.90 and a beta of 1.17. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00. The stock's 50 day simple moving average is $33.97 and its 200 day simple moving average is $33.89.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter in the previous year, the business posted ($0.75) earnings per share. As a group, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on XENE. Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Chardan Capital reiterated a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 12th. Evercore ISI began coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price on the stock. Wells Fargo & Company reduced their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, According to MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $53.20.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.

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