Vestal Point Capital LP Sells 15,000 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Vestal Point Capital LP decreased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 810,000 shares of the biopharmaceutical company's stock after selling 15,000 shares during the quarter. Xenon Pharmaceuticals comprises approximately 1.9% of Vestal Point Capital LP's investment portfolio, making the stock its 21st biggest holding. Vestal Point Capital LP owned about 1.06% of Xenon Pharmaceuticals worth $31,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Occudo Quantitative Strategies LP raised its stake in shares of Xenon Pharmaceuticals by 5.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company's stock worth $448,000 after buying an additional 630 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Xenon Pharmaceuticals by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock worth $2,726,000 after buying an additional 720 shares during the last quarter. KBC Group NV grew its holdings in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after purchasing an additional 780 shares during the period. HighMark Wealth Management LLC grew its holdings in Xenon Pharmaceuticals by 22.0% during the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company's stock valued at $239,000 after purchasing an additional 1,100 shares during the period. Finally, Swiss National Bank grew its holdings in Xenon Pharmaceuticals by 1.0% during the fourth quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company's stock valued at $4,963,000 after purchasing an additional 1,300 shares during the period. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Stock Down 2.4%

XENE traded down $0.74 during trading hours on Friday, hitting $29.75. 944,149 shares of the company's stock were exchanged, compared to its average volume of 522,361. Xenon Pharmaceuticals Inc. has a 1-year low of $26.74 and a 1-year high of $46.00. The stock's 50-day moving average is $33.62 and its two-hundred day moving average is $37.56. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -10.55 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.07. The firm had revenue of $7.50 million for the quarter, compared to the consensus estimate of $1.64 million. During the same period last year, the company posted ($0.62) earnings per share. On average, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XENE. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $67.00 price objective for the company. The Goldman Sachs Group decreased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada decreased their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company decreased their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Needham & Company LLC decreased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.82.

Xenon Pharmaceuticals Profile

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.