Rock Springs Capital Management LP Has $49.07 Million Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Rock Springs Capital Management LP reduced its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,251,859 shares of the biopharmaceutical company's stock after selling 64,618 shares during the quarter. Xenon Pharmaceuticals makes up about 1.9% of Rock Springs Capital Management LP's portfolio, making the stock its 17th biggest holding. Rock Springs Capital Management LP owned 1.64% of Xenon Pharmaceuticals worth $49,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of XENE. FMR LLC boosted its holdings in shares of Xenon Pharmaceuticals by 8.8% during the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock worth $294,991,000 after acquiring an additional 607,606 shares during the period. Alliancebernstein L.P. boosted its position in shares of Xenon Pharmaceuticals by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,443,180 shares of the biopharmaceutical company's stock valued at $56,573,000 after acquiring an additional 18,445 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Xenon Pharmaceuticals by 38.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company's stock valued at $53,190,000 after acquiring an additional 380,112 shares in the last quarter. Affinity Asset Advisors LLC increased its position in Xenon Pharmaceuticals by 1.5% during the fourth quarter. Affinity Asset Advisors LLC now owns 1,161,237 shares of the biopharmaceutical company's stock worth $45,520,000 after acquiring an additional 17,216 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in shares of Xenon Pharmaceuticals by 9.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 848,850 shares of the biopharmaceutical company's stock worth $33,275,000 after purchasing an additional 70,557 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now owns 31,302 shares of the company's stock, valued at $1,267,731. This trade represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.52% of the company's stock.

Xenon Pharmaceuticals Stock Down 1.5 %

Shares of XENE stock traded down $0.58 during trading hours on Friday, hitting $37.62. 436,004 shares of the company's stock traded hands, compared to its average volume of 443,976. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The stock has a market cap of $2.88 billion, a PE ratio of -13.34 and a beta of 1.21. The stock's 50 day simple moving average is $34.80 and its 200 day simple moving average is $38.68.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.05. As a group, equities research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on XENE shares. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. HC Wainwright restated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. The Goldman Sachs Group reduced their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, StockNews.com raised Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.78.

Xenon Pharmaceuticals Company 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.