Pictet Asset Management Holding SA Increases Stake in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Pictet Asset Management Holding SA increased its stake in Xenon Pharmaceuticals by 8.6% in the first quarter, bringing its holdings to 679,709 shares valued at about $39.2 million.
• Several other hedge funds also adjusted positions in the biopharmaceutical company, and 95.45% of the stock is owned by institutional investors.
• Insiders sold shares recently, while analysts remain broadly bullish: Xenon has a consensus “Buy” rating and an average price target of $77.20 versus a recent trading price around $60.36.

Pictet Asset Management Holding SA lifted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,709 shares of the biopharmaceutical company's stock after acquiring an additional 53,724 shares during the quarter. Pictet Asset Management Holding SA owned 0.82% of Xenon Pharmaceuticals worth $39,229,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cinctive Capital Management LP increased its position in Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company's stock valued at $1,045,000 after purchasing an additional 263 shares during the period. State of Wyoming lifted its position in shares of Xenon Pharmaceuticals by 30.4% in the 4th quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company's stock worth $67,000 after purchasing an additional 350 shares during the period. Quarry LP lifted its position in shares of Xenon Pharmaceuticals by 25.0% in the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company's stock worth $100,000 after purchasing an additional 500 shares during the period. Altfest L J & Co. Inc. boosted its stake in shares of Xenon Pharmaceuticals by 6.5% during the fourth quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company's stock valued at $369,000 after purchasing an additional 501 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Xenon Pharmaceuticals by 11.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company's stock valued at $295,000 after purchasing an additional 675 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, 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 completion of the sale, the director owned 1,455 shares of the company's stock, valued at $77,318.70. This trade represents a 44.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Patou sold 1,322 shares of the business'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 $70,251.08. Following the transaction, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.07% of the company's stock.

Xenon Pharmaceuticals Stock Up 0.4%

NASDAQ XENE opened at $60.36 on Wednesday. Xenon Pharmaceuticals Inc. has a 52 week low of $30.00 and a 52 week high of $63.95. The company has a 50 day moving average price of $54.77 and a 200 day moving average price of $49.95. The firm has a market cap of $5.84 billion, a PE ratio of -12.84 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting the consensus estimate of ($1.17). During the same quarter last year, the company earned ($0.83) earnings per share. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on XENE. Wells Fargo & Company reissued an "overweight" rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Deutsche Bank Aktiengesellschaft increased their target price on Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Wedbush reduced their price target on Xenon Pharmaceuticals from $64.00 to $63.00 and set an "outperform" rating for the company in a research report on Monday, March 16th. Needham & Company LLC decreased their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $77.20.

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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