Rhenman & Partners Asset Management AB Boosts Holdings in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Rhenman & Partners Asset Management AB boosted its Xenon Pharmaceuticals stake by 71.6% in the fourth quarter, buying 58,000 additional shares and bringing its total holding to 139,000 shares valued at about $6.23 million.
• Insider selling was reported on June 5, with directors Gary Patou and Gillian Cannon selling shares at $53.14 each. Company insiders now own about 4.07% of the stock.
• Wall Street sentiment remains positive overall, with analysts giving Xenon a consensus “Buy” rating and an average target price of $77.20, even as the stock traded around $52.10 and the company reported a Q1 EPS loss of $1.17 in line with estimates.

Rhenman & Partners Asset Management AB raised its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 71.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,000 shares of the biopharmaceutical company's stock after purchasing an additional 58,000 shares during the period. Rhenman & Partners Asset Management AB owned 0.18% of Xenon Pharmaceuticals worth $6,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XENE. Danske Bank A S purchased a new position in Xenon Pharmaceuticals during the third quarter valued at $32,000. Blue Trust Inc. raised 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 buying an additional 717 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the third quarter valued at about $39,000. Osaic Holdings Inc. raised its position 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 valued at $40,000 after buying an additional 1,034 shares during the last quarter. Finally, State of Wyoming raised its position in shares of Xenon Pharmaceuticals by 112.8% in the third quarter. State of Wyoming now owns 1,151 shares of the biopharmaceutical company's stock valued at $46,000 after buying an additional 610 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gary Patou sold 1,322 shares of the firm'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 $70,251.08. Following the completion of the sale, the director directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gillian Cannon sold 1,190 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director owned 1,455 shares of the company's stock, valued at approximately $77,318.70. The trade was a 44.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird increased their target price on shares of Xenon Pharmaceuticals from $63.00 to $97.00 and gave the company an "outperform" rating in a research report on Monday, March 9th. Wolfe Research assumed coverage on shares of Xenon Pharmaceuticals in a research report on Monday, February 23rd. They issued an "outperform" rating and a $60.00 target price for the company. Guggenheim reiterated a "buy" rating and issued a $90.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 8th. Two equities research 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 MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $77.20.

Xenon Pharmaceuticals Trading Down 0.2%

Xenon Pharmaceuticals stock opened at $52.10 on Friday. Xenon Pharmaceuticals Inc. has a 12-month low of $30.00 and a 12-month high of $63.95. The stock has a market cap of $5.04 billion, a P/E ratio of -11.09 and a beta of 0.62. The company has a 50-day moving average price of $55.41 and a 200 day moving average price of $48.95.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.17). During the same quarter last year, the firm earned ($0.83) EPS. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

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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