Neo Ivy Capital Management Takes Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Neo Ivy Capital Management opened a new position in Xenon Pharmaceuticals (NASDAQ: XENE), buying 49,838 shares worth about $2.00 million, equal to roughly 0.06% of the company; institutional investors now own about 95.45% of the stock.
• CEO Ian Mortimer sold 40,000 shares on Jan. 2 at an average price of $44.43 for ~$1.78 million, reducing his holding to 6,000 shares (an ~86.96% decrease); insiders currently own ~4.07% of the company.
• Analysts have an average rating of Buy with a consensus target of $55.50 (recent targets ranging up to $60), although Xenon recently missed quarterly EPS estimates (reported -$1.31 vs. -$1.20) and is forecast to post negative EPS for the year.

Neo Ivy Capital Management bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,838 shares of the biopharmaceutical company's stock, valued at approximately $2,001,000. Neo Ivy Capital Management owned approximately 0.06% of Xenon Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in XENE. Goldman Sachs Group Inc. boosted its stake in Xenon Pharmaceuticals by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company's stock valued at $14,854,000 after purchasing an additional 32,486 shares in the last quarter. Assetmark Inc. raised its stake in shares of Xenon Pharmaceuticals by 6.6% in the 2nd quarter. Assetmark Inc. now owns 21,250 shares of the biopharmaceutical company's stock worth $665,000 after buying an additional 1,316 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth $81,000. Bank of New York Mellon Corp lifted its holdings in shares of Xenon Pharmaceuticals by 73.6% in the second quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company's stock valued at $13,647,000 after buying an additional 184,873 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at $577,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on XENE shares. Wolfe Research began coverage on Xenon Pharmaceuticals in a research note on Monday, February 23rd. They set an "outperform" rating and a $60.00 target price for the company. Needham & Company LLC boosted their price target on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, November 19th. Finally, Wells Fargo & Company lifted their price objective on shares of Xenon Pharmaceuticals from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $55.50.

Insider Activity

In other news, CEO Ian Mortimer sold 40,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total value of $1,777,200.00. Following the completion of the sale, the chief executive officer owned 6,000 shares in the company, valued at $266,580. This represents a 86.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.07% of the stock is owned by insiders.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $41.94 on Friday. The company has a market cap of $3.49 billion, a PE ratio of -9.62 and a beta of 0.91. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.99. The firm has a 50 day simple moving average of $42.25 and a 200 day simple moving average of $41.19.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.20) by ($0.11). During the same period in the previous year, the business earned ($0.84) EPS. On average, equities analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

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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