Octagon Capital Advisors LP Purchases Shares of 490,000 Xenon Pharmaceuticals Inc. $XENE

Key Points

• Octagon Capital Advisors purchased 490,000 shares of Xenon Pharmaceuticals in the first quarter, valued at approximately $28.5 million. The position represents 3.2% of its portfolio and about 0.51% of Xenon’s outstanding shares.
• Institutional investors own 95.45% of Xenon’s stock, while two company directors recently sold shares totaling about $133,500.
• Wall Street maintains a broadly positive outlook, with the stock carrying an average “Buy” rating and a consensus price target of $77.20, compared with a recent opening price of $65.42.

Octagon Capital Advisors LP purchased a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 490,000 shares of the biopharmaceutical company's stock, valued at approximately $28,494,000. Xenon Pharmaceuticals accounts for 3.2% of Octagon Capital Advisors LP's investment portfolio, making the stock its 13th biggest position. Octagon Capital Advisors LP owned approximately 0.51% of Xenon Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of XENE. Danske Bank A S purchased a new stake in Xenon Pharmaceuticals in the 3rd quarter worth $32,000. Blue Trust Inc. lifted its position 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 acquiring an additional 717 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth about $33,000. Osaic Holdings Inc. boosted its stake in shares of Xenon Pharmaceuticals by 541.4% in the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 1,034 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $43,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 1,322 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the transaction, the director owned 24,896 shares of the company's stock, valued at $1,322,973.44. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the completion of the sale, the director owned 1,455 shares of the company's stock, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Needham & Company LLC dropped 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. Wells Fargo & Company restated an "overweight" rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Royal Bank Of Canada lifted their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $77.20.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $65.42 on Monday. Xenon Pharmaceuticals Inc. has a 12-month low of $30.00 and a 12-month high of $72.66. The firm has a 50-day moving average price of $58.30 and a 200-day moving average price of $52.69. The firm has a market capitalization of $6.32 billion, a PE ratio of -13.92 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($1.17). During the same period in the previous year, the firm posted ($0.83) EPS. As a group, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal 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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