NEXTBio Capital Management LP Takes Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• NEXTBio Capital Management initiated a new position in Xenon Pharmaceuticals in Q4, buying 183,704 shares valued at about $8.23 million. The stake represents roughly 4.8% of NEXTBio’s portfolio and makes XENE its 8th-largest holding.
• Xenon shares were down slightly, trading around $52.10, with the company carrying a $5.04 billion market cap. The stock has traded between $30.00 and $63.95 over the past 12 months.
• Analysts remain broadly bullish on Xenon, with an average Buy rating and a price target of $77.20. Recent insider activity was mixed, however, as directors Gary Patou and Gillian Cannon both sold shares on June 5.

NEXTBio Capital Management LP purchased a new stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 183,704 shares of the biopharmaceutical company's stock, valued at approximately $8,234,000. Xenon Pharmaceuticals makes up about 4.8% of NEXTBio Capital Management LP's investment portfolio, making the stock its 8th largest position. NEXTBio Capital Management LP owned 0.24% of Xenon Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State of Wyoming increased its stake in shares of Xenon Pharmaceuticals by 30.4% in the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 350 shares in the last quarter. Quarry LP increased its stake in shares of Xenon Pharmaceuticals by 25.0% in the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company's stock valued at $100,000 after buying an additional 500 shares in the last quarter. Altfest L J & Co. Inc. increased its stake in shares of Xenon Pharmaceuticals by 6.5% in the fourth quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company's stock valued at $369,000 after buying an additional 501 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Xenon Pharmaceuticals by 11.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company's stock valued at $295,000 after buying an additional 675 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 2,560.7% in the fourth quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 717 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Down 0.2%

Shares of Xenon Pharmaceuticals stock opened at $52.10 on Friday. The company has a market capitalization of $5.04 billion, a PE ratio of -11.09 and a beta of 0.62. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $63.95. The stock's fifty day simple moving average is $55.41 and its 200 day simple moving average is $48.95.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting the consensus estimate of ($1.17). During the same period last year, the company posted ($0.83) EPS. Analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on XENE. Guggenheim restated a "buy" rating and issued a $90.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, March 9th. Bank of America restated a "buy" rating on shares of Xenon Pharmaceuticals in a research note on Monday, March 9th. Royal Bank Of Canada upped their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Wolfe Research assumed coverage on Xenon Pharmaceuticals in a report on Monday, February 23rd. They set an "outperform" rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Two 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's stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of "Buy" and an average price target of $77.20.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 1,322 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $70,251.08. Following the sale, the director owned 24,896 shares of the company's stock, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of the firm's stock in a transaction on 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 directly owned 1,455 shares in the company, valued at $77,318.70. The trade was a 44.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.07% of the company's stock.

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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