Affinity Asset Advisors LLC Boosts Stock Position in Xenon Pharmaceuticals Inc. $XENE

Key Points

• Affinity Asset Advisors LLC increased its stake in Xenon Pharmaceuticals by 14.4% during Q1, making it the largest holding of the firm, valued at approximately $44.56 million.
• Institutional investors own around 95.45% of Xenon Pharmaceuticals, reflecting significant interest and investment in the company.
• Xenon Pharmaceuticals reported an earnings miss for the last quarter, with a loss of ($1.07) per share, slightly worse than the consensus estimate of ($1.03).

Affinity Asset Advisors LLC grew its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 14.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,328,175 shares of the biopharmaceutical company's stock after purchasing an additional 166,938 shares during the quarter. Xenon Pharmaceuticals makes up 4.3% of Affinity Asset Advisors LLC's holdings, making the stock its biggest holding. Affinity Asset Advisors LLC owned approximately 1.73% of Xenon Pharmaceuticals worth $44,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals during the first quarter valued at about $298,000. Wellington Management Group LLP boosted its stake in shares of Xenon Pharmaceuticals by 0.3% during the first quarter. Wellington Management Group LLP now owns 3,789,197 shares of the biopharmaceutical company's stock valued at $127,128,000 after purchasing an additional 11,586 shares in the last quarter. Aberdeen Group plc increased its stake in shares of Xenon Pharmaceuticals by 42.4% in the first quarter. Aberdeen Group plc now owns 404,154 shares of the biopharmaceutical company's stock valued at $13,559,000 after buying an additional 120,255 shares during the period. Fox Run Management L.L.C. raised its position in shares of Xenon Pharmaceuticals by 31.9% during the first quarter. Fox Run Management L.L.C. now owns 11,372 shares of the biopharmaceutical company's stock worth $382,000 after acquiring an additional 2,751 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Xenon Pharmaceuticals in the first quarter worth approximately $30,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock traded up $0.11 during mid-day trading on Friday, reaching $38.71. The stock had a trading volume of 677,575 shares, compared to its average volume of 981,668. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The stock's 50-day simple moving average is $33.83 and its 200-day simple moving average is $33.93. The firm has a market capitalization of $2.98 billion, a PE ratio of -10.90 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter in the prior year, the company posted ($0.75) earnings per share. On average, research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wedbush upped their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Wall Street Zen cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Wells Fargo & Company reduced their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Needham & Company LLC cut their target price on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Eleven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $53.20.

Xenon Pharmaceuticals Company 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.