Walleye Capital LLC Buys New Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Walleye Capital initiated a position of 76,955 Xenon Pharmaceuticals shares worth approximately $4.65 million, while institutional investors collectively own 95.45% of the company.
• Analyst sentiment remains positive, with a consensus “Buy” rating and average price target of $77.13 versus the stock’s reported price of $62.35.
• Xenon reported quarterly EPS of negative $1.11, beating expectations of negative $1.16; however, insiders sold 12,512 shares worth approximately $774,000 over the past three months.

Walleye Capital LLC purchased a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,955 shares of the biopharmaceutical company's stock, valued at approximately $4,645,000. Walleye Capital LLC owned approximately 0.08% of Xenon Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Danske Bank A S bought a new position in Xenon Pharmaceuticals during the 3rd quarter valued at $32,000. Kestra Advisory Services LLC bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth $33,000. Osaic Holdings Inc. raised its holdings 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 purchasing an additional 1,034 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at about $43,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Xenon Pharmaceuticals by 450.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 900 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $74.00 price target on shares of Xenon Pharmaceuticals in a report on Monday. Royal Bank Of Canada decreased their price objective on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Needham & Company LLC dropped their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Finally, Wall Street Zen raised Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. 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 stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $77.13.

Xenon Pharmaceuticals Stock Performance

XENE opened at $62.35 on Friday. The firm has a market cap of $6.03 billion, a P/E ratio of -13.15 and a beta of 0.62. The firm has a 50-day moving average of $61.34 and a 200 day moving average of $54.99. Xenon Pharmaceuticals Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.16) by $0.05. During the same quarter in the previous year, the company posted ($1.07) EPS. Equities research analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gillian Cannon sold 1,190 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven Gannon sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the transaction, the director owned 1,870 shares in the company, valued at approximately $119,792.20. The trade was a 84.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,512 shares of company stock valued at $774,088 in the last three months. Company insiders own 2.91% of the company's stock.

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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