abrdn plc Takes $1.48 Million Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

abrdn plc bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,036 shares of the biopharmaceutical company's stock, valued at approximately $1,476,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Xenon Pharmaceuticals by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,651 shares of the biopharmaceutical company's stock worth $56,000 after purchasing an additional 818 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Xenon Pharmaceuticals by 22.2% in the third quarter. Exchange Traded Concepts LLC now owns 3,967 shares of the biopharmaceutical company's stock valued at $136,000 after acquiring an additional 720 shares during the period. Assetmark Inc. lifted its holdings in Xenon Pharmaceuticals by 21.5% in the third quarter. Assetmark Inc. now owns 7,103 shares of the biopharmaceutical company's stock valued at $243,000 after acquiring an additional 1,258 shares during the period. Moody Aldrich Partners LLC acquired a new position in Xenon Pharmaceuticals in the third quarter valued at approximately $312,000. Finally, Barclays PLC lifted its holdings in Xenon Pharmaceuticals by 3.7% in the third quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company's stock valued at $324,000 after acquiring an additional 342 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, EVP Sherrington Robin sold 7,137 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the sale, the executive vice president now directly owns 8,398 shares in the company, valued at approximately $388,659.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Xenon Pharmaceuticals news, EVP Sherrington Robin sold 7,137 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the sale, the executive vice president now directly owns 8,398 shares in the company, valued at approximately $388,659.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven Gannon sold 13,000 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the sale, the director now owns 2,000 shares of the company's stock, valued at $92,560. The disclosure for this sale can be found here. 5.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

XENE has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Royal Bank of Canada cut their price objective on Xenon Pharmaceuticals from $56.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. Wedbush boosted their price objective on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Bank of America boosted their price objective on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, January 2nd. Finally, Citigroup initiated coverage on Xenon Pharmaceuticals in a research report on Thursday, January 4th. They issued a "buy" rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.44.

Xenon Pharmaceuticals Stock Performance

Shares of XENE traded down $2.08 during trading hours on Tuesday, hitting $40.65. 595,928 shares of the stock were exchanged, compared to its average volume of 403,288. Xenon Pharmaceuticals Inc. has a 12-month low of $27.99 and a 12-month high of $50.99. The company has a market cap of $3.07 billion, a price-to-earnings ratio of -14.94 and a beta of 1.15. The stock's 50-day moving average price is $43.67 and its two-hundred day moving average price is $41.20.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.12. The firm's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.57) EPS. On average, research analysts expect that Xenon Pharmaceuticals Inc. will post -3.04 earnings per share for the current year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.