Eversept Partners LP Trims Stock Position in Xenon Pharmaceuticals Inc. $XENE

Eversept Partners LP cut its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 44.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,574 shares of the biopharmaceutical company’s stock after selling 101,806 shares during the quarter. Eversept Partners LP’s holdings in Xenon Pharmaceuticals were worth $7,535,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Quantinno Capital Management LP raised its position in shares of Xenon Pharmaceuticals by 125.1% during the 1st quarter. Quantinno Capital Management LP now owns 55,444 shares of the biopharmaceutical company’s stock worth $3,224,000 after purchasing an additional 30,816 shares during the last quarter. SummitTX Capital L.P. purchased a new position in Xenon Pharmaceuticals during the first quarter worth $1,523,000. Castleark Management LLC purchased a new position in Xenon Pharmaceuticals during the first quarter worth $3,754,000. Orbimed Advisors LLC raised its holdings in shares of Xenon Pharmaceuticals by 137.0% in the first quarter. Orbimed Advisors LLC now owns 1,059,971 shares of the biopharmaceutical company’s stock worth $61,637,000 after acquiring an additional 612,771 shares during the last quarter. Finally, Octagon Capital Advisors LP acquired a new position in shares of Xenon Pharmaceuticals in the first quarter worth $28,494,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the sale, the director directly owned 24,896 shares of the company’s stock, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gillian Cannon sold 1,190 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the completion of the sale, the director owned 1,455 shares of the company’s stock, valued at $77,318.70. This trade represents a 44.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.91% of the company’s stock.

Analyst Upgrades and Downgrades

XENE has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Royal Bank Of Canada lifted their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $77.20.

Xenon Pharmaceuticals Stock Up 0.6%

Shares of Xenon Pharmaceuticals stock opened at $65.78 on Tuesday. Xenon Pharmaceuticals Inc. has a fifty-two week low of $30.00 and a fifty-two week high of $72.66. The firm has a market cap of $6.36 billion, a PE ratio of -14.00 and a beta of 0.61. The business’s fifty day moving average is $58.54 and its two-hundred day moving average is $52.87.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.17). During the same period last year, the firm posted ($0.83) EPS. Equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

Xenon Pharmaceuticals Profile

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.