Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,525,290 shares of the biopharmaceutical company’s stock after purchasing an additional 607,606 shares during the quarter. Fmr LLC owned about 9.87% of Xenon Pharmaceuticals worth $294,991,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after acquiring an additional 905,129 shares during the period. Jennison Associates LLC increased its holdings in shares of Xenon Pharmaceuticals by 39.0% in the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock valued at $31,421,000 after purchasing an additional 224,892 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of Xenon Pharmaceuticals by 9.1% during the fourth 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 during the last quarter. BIT Capital GmbH acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth $2,114,000. Finally, abrdn plc grew its position in Xenon Pharmaceuticals by 14.3% in the 4th quarter. abrdn plc now owns 283,899 shares of the biopharmaceutical company’s stock valued at $11,129,000 after buying an additional 35,588 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction dated 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 sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,267,731. The trade was a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.52% of the stock is currently owned by company insiders.

Xenon Pharmaceuticals Stock Down 2.7 %

Xenon Pharmaceuticals stock opened at $30.73 on Friday. The firm has a market capitalization of $2.35 billion, a PE ratio of -10.90 and a beta of 1.21. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The firm’s 50-day simple moving average is $35.71 and its 200 day simple moving average is $39.03.

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

Analyst Upgrades and Downgrades

XENE has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price objective for the company. Finally, StockNews.com lowered shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 6th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $57.38.

About Xenon Pharmaceuticals

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.