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 trimmed its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 66.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP lifted its holdings 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 during the last quarter. Braidwell LP lifted its stake in Xenon Pharmaceuticals by 7.6% in the 4th quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company's stock worth $114,227,000 after acquiring an additional 206,709 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Xenon Pharmaceuticals by 12.3% in the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock worth $112,425,000 after acquiring an additional 314,363 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in Xenon Pharmaceuticals by 10.3% in the 4th quarter. Polar Capital Holdings Plc now owns 2,697,657 shares of the biopharmaceutical company's stock worth $105,748,000 after acquiring an additional 253,012 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Xenon Pharmaceuticals by 20.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,391,370 shares of the biopharmaceutical company's stock worth $46,680,000 after acquiring an additional 234,181 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE traded up $0.66 during mid-day trading on Friday, reaching $38.84. 1,186,173 shares of the company traded hands, compared to its average volume of 1,059,102. The stock has a market cap of $2.99 billion, a PE ratio of -10.94 and a beta of 1.16. The company's fifty day moving average is $33.16 and its two-hundred day moving average is $33.95. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the business earned ($0.75) earnings per share. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on XENE shares. Wells Fargo & Company reduced their price objective on 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. Wedbush increased their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. HC Wainwright reissued a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Evercore ISI started coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $53.20.

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.