Xenon Pharmaceuticals (NASDAQ:XENE) Insider Sells $425,847.00 in Stock

Key Points

• Xenon Pharmaceuticals insider Christopher John Kenney sold 7,068 shares for approximately $425,847, reducing his direct ownership by 99.97% to just two shares. The sale was made to cover tax withholding obligations from vested equity awards.
• XENE opened at $60.22, with a market capitalization of about $5.82 billion. The company recently reported a quarterly loss of $1.11 per share, beating analyst estimates of a $1.16 loss.
• Analysts maintain a generally positive outlook, with an average rating of “Buy” and an average price target of $77.13, compared with the stock’s recent price near $60.22.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) insider Christopher John Kenney sold 7,068 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $60.25, for a total transaction of $425,847.00. Following the completion of the sale, the insider directly owned 2 shares of the company's stock, valued at approximately $120.50. This trade represents a 99.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $60.22 on Tuesday. The stock's 50-day moving average is $63.29 and its two-hundred day moving average is $56.61. Xenon Pharmaceuticals Inc. has a 1 year low of $35.60 and a 1 year high of $72.66. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -12.70 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its 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 period in the previous year, the company earned ($1.07) earnings per share. As a group, research analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on XENE shares. JPMorgan Chase & Co. lifted their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Royal Bank Of Canada decreased their price target on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Wells Fargo & Company restated an "overweight" rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a "buy" rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $77.13.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Danske Bank A S purchased a new position in Xenon Pharmaceuticals during the 3rd quarter worth $32,000. Kestra Advisory Services LLC acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $33,000. Osaic Holdings Inc. increased its stake in shares of Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 1,034 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. raised its holdings in Xenon Pharmaceuticals by 450.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 900 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company's research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon's scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company's pipeline comprises multiple preclinical and clinical programs.

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