Vestal Point Capital LP Increases Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Vestal Point Capital LP lifted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 57.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 825,000 shares of the biopharmaceutical company’s stock after acquiring an additional 300,000 shares during the quarter. Xenon Pharmaceuticals accounts for about 2.5% of Vestal Point Capital LP’s holdings, making the stock its 16th largest position. Vestal Point Capital LP owned about 1.09% of Xenon Pharmaceuticals worth $32,480,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its stake in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Xenon Pharmaceuticals during the 3rd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 487 shares during the period. Quarry LP increased its holdings in Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Xenon Pharmaceuticals during the first quarter valued at about $287,000. 95.45% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $43.15 on Friday. The firm has a 50 day simple moving average of $41.42 and a two-hundred day simple moving average of $40.24. Xenon Pharmaceuticals Inc. has a one year low of $33.62 and a one year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same quarter in the previous year, the business earned ($0.73) earnings per share. As a group, sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

XENE has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Raymond James restated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Finally, Wedbush reduced their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $57.45.

Insider Transactions at Xenon Pharmaceuticals

In other news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares in the company, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals 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.