Atika Capital Management LLC Lowers Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Atika Capital Management LLC reduced its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 42.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,600 shares of the biopharmaceutical company’s stock after selling 53,400 shares during the period. Atika Capital Management LLC owned approximately 0.10% of Xenon Pharmaceuticals worth $2,846,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in XENE. State Street Corp grew its position in Xenon Pharmaceuticals by 13.2% during the third quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company’s stock worth $11,004,000 after buying an additional 32,701 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Xenon Pharmaceuticals by 31.0% during the third quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company’s stock worth $10,776,000 after purchasing an additional 64,800 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after purchasing an additional 15,226 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Xenon Pharmaceuticals by 68.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 24,557 shares of the biopharmaceutical company’s stock valued at $967,000 after purchasing an additional 10,007 shares in the last quarter. Finally, Barclays PLC lifted its position in Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after purchasing an additional 13,903 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Down 4.3 %

NASDAQ:XENE opened at $29.40 on Friday. The firm has a market capitalization of $2.25 billion, a P/E ratio of -10.43 and a beta of 1.21. The company has a fifty day moving average of $36.90 and a 200 day moving average of $39.43. Xenon Pharmaceuticals Inc. has a 52 week low of $29.20 and a 52 week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. As a group, analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on XENE. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, HC Wainwright reiterated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.38.

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.