Walleye Capital LLC Takes Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Walleye Capital LLC purchased a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 104,960 shares of the biopharmaceutical company’s stock, valued at approximately $4,132,000. Walleye Capital LLC owned about 0.14% of Xenon Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in XENE. Blue Trust Inc. boosted its holdings in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares in the last quarter. nVerses Capital LLC bought a new position in Xenon Pharmaceuticals in the 3rd quarter worth about $102,000. Mirae Asset Global Investments Co. Ltd. grew its position in 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 valued at $106,000 after purchasing an additional 487 shares during the last quarter. Quarry LP increased its stake in Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Xenon Pharmaceuticals in the first quarter worth about $287,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on XENE. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Raymond James restated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Finally, Wedbush decreased their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $57.45.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the transaction, the director now owns 23,573 shares of the company’s stock, valued at $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Stock Down 1.2 %

Xenon Pharmaceuticals stock opened at $42.63 on Monday. Xenon Pharmaceuticals Inc. has a 52-week low of $35.18 and a 52-week high of $50.99. The company has a market cap of $3.25 billion, a P/E ratio of -15.12 and a beta of 1.25. The business has a 50-day simple moving average of $41.47 and a two-hundred day simple moving average of $40.25.

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, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business earned ($0.73) EPS. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

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.