Bridger Management LLC Purchases Shares of 146,800 Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bridger Management LLC purchased a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 146,800 shares of the biopharmaceutical company's stock, valued at approximately $6,762,000. Xenon Pharmaceuticals comprises approximately 2.6% of Bridger Management LLC's portfolio, making the stock its 15th biggest holding. Bridger Management LLC owned approximately 0.19% of Xenon Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. First Light Asset Management LLC lifted its stake in Xenon Pharmaceuticals by 173.3% in the fourth quarter. First Light Asset Management LLC now owns 1,645,490 shares of the biopharmaceutical company's stock valued at $75,791,000 after acquiring an additional 1,043,420 shares during the last quarter. Commodore Capital LP lifted its stake in shares of Xenon Pharmaceuticals by 17.5% during the 4th quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company's stock worth $99,849,000 after buying an additional 322,793 shares during the last quarter. Avidity Partners Management LP lifted its stake in shares of Xenon Pharmaceuticals by 153.9% during the 4th quarter. Avidity Partners Management LP now owns 815,993 shares of the biopharmaceutical company's stock worth $37,585,000 after buying an additional 494,593 shares during the last quarter. Avoro Capital Advisors LLC lifted its stake in shares of Xenon Pharmaceuticals by 15.6% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company's stock worth $261,007,000 after buying an additional 766,666 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 4th quarter worth about $1,279,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Up 1.6 %

XENE stock traded up $0.62 during midday trading on Monday, reaching $40.42. 469,380 shares of the company's stock traded hands, compared to its average volume of 388,998. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -14.92 and a beta of 1.19. The firm's fifty day moving average price is $42.17 and its 200-day moving average price is $42.02. Xenon Pharmaceuticals Inc. has a 52 week low of $27.99 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.07. The business had revenue of $1.00 million for the quarter. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.63) EPS. Analysts forecast that Xenon Pharmaceuticals Inc. will post -2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

XENE has been the topic of a number of recent research reports. Citigroup lowered their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada lowered their price target on shares of Xenon Pharmaceuticals from $56.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $62.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, May 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Finally, Wedbush decreased their target price on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, May 10th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.11.

Insider Transactions at Xenon Pharmaceuticals

In other news, 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 in the company, valued at approximately $92,560. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Steven Gannon sold 13,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at $92,560. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sherrington Robin sold 7,137 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $330,300.36. Following the transaction, the executive vice president now owns 8,398 shares of the company's stock, valued at approximately $388,659.44. The disclosure for this sale can be found here. Company insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Profile

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.

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