Xenon Pharmaceuticals Inc. $XENE Shares Acquired by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC significantly increased its stake in Xenon Pharmaceuticals by 96%, acquiring a total of 95,568 shares valued at approximately $2.99 million.
• Xenon Pharmaceuticals reported a loss of $1.07 earnings per share for its latest quarter, missing analyst estimates, with predictions of a total earnings per share of -3.1 for the year.
• Analysts have varied viewpoints on the stock, with ratings ranging from "strong-buy" to "sell," and an average consensus price target of $53.67.

Mutual of America Capital Management LLC lifted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 96.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,568 shares of the biopharmaceutical company's stock after buying an additional 46,805 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.12% of Xenon Pharmaceuticals worth $2,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in XENE. Farther Finance Advisors LLC acquired a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Xenon Pharmaceuticals during the first quarter worth about $30,000. GF Fund Management CO. LTD. grew its position in shares of Xenon Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 351 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Xenon Pharmaceuticals by 15.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 403 shares in the last quarter. Finally, Vident Advisory LLC grew its position in shares of Xenon Pharmaceuticals by 21.4% during the first quarter. Vident Advisory LLC now owns 6,574 shares of the biopharmaceutical company's stock worth $221,000 after buying an additional 1,161 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ XENE opened at $40.76 on Friday. Xenon Pharmaceuticals Inc. has a twelve month low of $26.74 and a twelve month high of $46.00. The stock has a 50 day moving average of $38.91 and a two-hundred day moving average of $34.90. The stock has a market cap of $3.14 billion, a P/E ratio of -11.48 and a beta of 1.14.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data 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 firm posted ($0.75) earnings per share. As a group, research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total value of $1,004,000.00. Following the completion of the sale, the chief executive officer owned 31,302 shares in the company, valued at approximately $1,257,088.32. The trade was a 44.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on XENE shares. Chardan Capital restated a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Bloom Burton upgraded Xenon Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, October 7th. Wedbush boosted their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They set an "overweight" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.67.

About Xenon Pharmaceuticals

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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