Xenon Pharmaceuticals (NASDAQ:XENE) Director Sells 10,000 Shares of Stock

Key Points

• Director Steven Gannon sold 10,000 Xenon Pharmaceuticals shares at an average price of $64.06, totaling $640,600. The transaction reduced his ownership by 84.25%, leaving him with 1,870 shares.
• XENE shares fell 1.6% to $64.23. Xenon recently reported a quarterly loss of $1.11 per share, which was better than analysts’ expected loss of $1.16.
• Wall Street remains broadly positive, with the stock carrying a consensus “Buy” rating and an average price target of $77.13; institutional investors own 95.45% of the company.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) Director Steven Gannon sold 10,000 shares of the firm'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 transaction, the director owned 1,870 shares in the company, valued at $119,792.20. The trade was a 84.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Xenon Pharmaceuticals Stock Down 1.6%

Shares of XENE stock traded down $1.03 on Thursday, hitting $64.23. The stock had a trading volume of 496,366 shares, compared to its average volume of 1,290,213. Xenon Pharmaceuticals Inc. has a one year low of $35.60 and a one year high of $72.66. The company has a market cap of $6.21 billion, a PE ratio of -13.55 and a beta of 0.62. The business has a 50 day moving average price of $60.91 and a 200 day moving average price of $54.78.

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, topping the consensus estimate of ($1.16) by $0.05. During the same quarter in the previous year, the firm posted ($1.07) earnings per share. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -4.78 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in XENE. Cinctive Capital Management LP raised its position in shares of Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company's stock valued at $1,045,000 after buying an additional 263 shares during the period. State of Wyoming increased its stake in Xenon Pharmaceuticals by 30.4% during the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 350 shares during the last quarter. Quarry LP increased its stake in Xenon Pharmaceuticals by 25.0% during the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company's stock worth $100,000 after acquiring an additional 500 shares during the last quarter. Royal Bank of Canada raised its position in Xenon Pharmaceuticals by 0.7% in the first quarter. Royal Bank of Canada now owns 90,387 shares of the biopharmaceutical company's stock valued at $5,255,000 after purchasing an additional 630 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Xenon Pharmaceuticals by 11.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company's stock valued at $295,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on XENE shares. JPMorgan Chase & Co. upped their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Royal Bank Of Canada reduced their price objective on Xenon Pharmaceuticals from $82.00 to $81.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, HC Wainwright restated a "buy" rating and set a $74.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $77.13.

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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