Atika Capital Management LLC Sells 48,600 Shares of Xenon Pharmaceuticals Inc. $XENE

Key Points

• Atika Capital Management LLC reduced its stake in Xenon Pharmaceuticals Inc. by 66.9%, selling 48,600 shares and ending with 24,000 shares valued at $805,000.
• Several hedge funds have recently acquired new positions in Xenon Pharmaceuticals, indicating strong interest in the stock from institutional investors, which collectively own 95.45% of the company.
• Xenon Pharmaceuticals has received mixed analyst ratings, with an average consensus rating of "Buy" and a target price of $53.20, despite a recent earnings miss.

Atika Capital Management LLC lessened its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 66.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,000 shares of the biopharmaceutical company's stock after selling 48,600 shares during the period. Atika Capital Management LLC's holdings in Xenon Pharmaceuticals were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Xenon Pharmaceuticals by 51.6% in the 4th quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock valued at $2,579,000 after purchasing an additional 22,377 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Xenon Pharmaceuticals by 39.1% in the 4th quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock valued at $3,620,000 after purchasing an additional 25,967 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Xenon Pharmaceuticals in the 1st quarter valued at approximately $1,636,000. Natixis Advisors LLC lifted its stake in Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after purchasing an additional 456 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Xenon Pharmaceuticals by 439.0% in the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock valued at $8,426,000 after purchasing an additional 204,550 shares during the last quarter. Institutional investors own 95.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on XENE shares. Wells Fargo & Company dropped their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Royal Bank Of Canada dropped their price objective on shares of Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen cut shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Wedbush upped their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Eleven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $53.20.

Xenon Pharmaceuticals Price Performance

Shares of XENE traded up $0.34 during trading hours on Tuesday, hitting $38.48. 130,084 shares of the stock were exchanged, compared to its average volume of 890,455. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The business has a 50-day moving average of $33.28 and a 200-day moving average of $33.90. The firm has a market capitalization of $2.97 billion, a P/E ratio of -10.80 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period in the prior year, the business posted ($0.75) EPS. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

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.