Federated Hermes Inc. cut its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 58.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 232,500 shares of the biopharmaceutical company's stock after selling 326,000 shares during the period. Federated Hermes Inc. owned approximately 0.30% of Xenon Pharmaceuticals worth $7,800,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of XENE. GF Fund Management CO. LTD. acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $63,000. Quarry LP acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $78,000. Vident Advisory LLC acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $212,000. Tema Etfs LLC acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $240,000. Finally, XTX Topco Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $316,000. Hedge funds and other institutional investors own 95.45% of the company's stock.
Xenon Pharmaceuticals Stock Performance
Shares of NASDAQ:XENE traded down $0.34 during trading hours on Wednesday, hitting $34.07. The stock had a trading volume of 295,347 shares, compared to its average volume of 886,156. The stock's fifty day simple moving average is $31.68 and its 200 day simple moving average is $34.24. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -10.55 and a beta of 1.16.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the previous year, the business posted ($0.62) EPS. As a group, research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.
Analyst Upgrades and Downgrades
XENE has been the subject of a number of recent research reports. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Wall Street Zen cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. HC Wainwright reiterated a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Chardan Capital restated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada dropped their target price on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.82.
View Our Latest Analysis on XENE
Xenon Pharmaceuticals Company Profile
(
Free Report)
Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.
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