Xenon Pharmaceuticals Inc. $XENE Stock: Alps Advisors Inc. Boosts Position

Key Points

• Alps Advisors increased its Xenon Pharmaceuticals stake by 31.4% in the third quarter, adding 30,679 shares to hold 128,289 shares worth about $4.77 million. Institutional investors collectively own 95.45% of the company.
• Xenon reported a quarterly loss of $1.11 per share, slightly better than analysts’ $1.16 loss estimate. Its shares opened at $39.17, below their 50-day and 200-day moving averages.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $71.31; recent targets ranged from $60 to $90, alongside ratings that included one “Strong Sell.”

Alps Advisors Inc. lifted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 31.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,289 shares of the biopharmaceutical company's stock after acquiring an additional 30,679 shares during the period. Alps Advisors Inc. owned 0.13% of Xenon Pharmaceuticals worth $4,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CenterBook Partners LP bought a new position in Xenon Pharmaceuticals in the third quarter worth $251,000. Inscription Capital LLC lifted its position in Xenon Pharmaceuticals by 85.1% during the third quarter. Inscription Capital LLC now owns 6,352 shares of the biopharmaceutical company's stock valued at $236,000 after buying an additional 2,921 shares during the period. Covestor Ltd lifted its position in Xenon Pharmaceuticals by 418.5% during the third quarter. Covestor Ltd now owns 674 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 544 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Xenon Pharmaceuticals during the third quarter valued at $184,000. Finally, State of Wyoming bought a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter valued at $251,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, insider Christopher Kenney sold 7,068 shares of Xenon Pharmaceuticals stock in a transaction on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the sale, the insider owned 2 shares of the company's stock, valued at approximately $120.50. This trade represents a 99.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Gannon sold 10,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the transaction, the director owned 1,870 shares of the company's stock, valued at $119,792.20. This represents a 84.25% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.91% of the company's stock.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $39.17 on Monday. The firm's 50 day moving average price is $43.04 and its 200-day moving average price is $52.15. The company has a market cap of $3.79 billion, a PE ratio of -8.26 and a beta of 0.11. Xenon Pharmaceuticals Inc. has a 52-week low of $33.38 and a 52-week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same quarter in the prior year, the company posted ($1.07) EPS. On average, analysts forecast that Xenon Pharmaceuticals Inc. will post -4.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on XENE shares. Jefferies Financial Group restated a "buy" rating and set a $90.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, September 28th. Wells Fargo & Company decreased their price target on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an "overweight" rating for the company in a research note on Friday, September 18th. Wall Street Zen cut shares of Xenon Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Sunday, October 11th. Needham & Company LLC dropped their price objective on shares of Xenon Pharmaceuticals from $78.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, September 18th. Finally, Guggenheim assumed coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 6th. They set a "buy" rating and a $73.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $71.31.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for neurological disorders. The company's research emphasizes ion channels, proteins that help regulate the electrical activity of nerve cells.

Its lead program is azetukalner, formerly known as XEN1101, an oral Kv7 potassium-channel opener being developed for seizure disorders, including focal epilepsy. Xenon is also advancing other drug candidates aimed at neurological conditions.

Founded in 1996, Xenon is headquartered in Burnaby, British Columbia, and conducts drug development activities in North America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.