Xenon Pharmaceuticals Inc. $XENE Shares Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC boosted its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 12.6% in the first quarter, HoldingsChannel reports. The firm owned 104,478 shares of the biopharmaceutical company’s stock after buying an additional 11,700 shares during the period. Granahan Investment Management LLC’s holdings in Xenon Pharmaceuticals were worth $6,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC raised its stake in shares of Xenon Pharmaceuticals by 34.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,675,000 shares of the biopharmaceutical company’s stock valued at $97,401,000 after buying an additional 425,000 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter worth about $17,474,000. Siren L.L.C. grew its holdings in Xenon Pharmaceuticals by 62.2% during the first quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company’s stock worth $76,674,000 after acquiring an additional 505,803 shares during the period. Sei Investments Co. grew its holdings in Xenon Pharmaceuticals by 160.8% during the first quarter. Sei Investments Co. now owns 114,381 shares of the biopharmaceutical company’s stock worth $6,652,000 after acquiring an additional 70,523 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Xenon Pharmaceuticals during the first quarter valued at approximately $211,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 1,322 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $70,251.08. Following the transaction, the director directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director directly owned 1,455 shares of the company’s stock, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $65.42 on Friday. Xenon Pharmaceuticals Inc. has a fifty-two week low of $30.00 and a fifty-two week high of $72.66. The stock’s fifty day moving average is $58.30 and its two-hundred day moving average is $52.62. The firm has a market capitalization of $6.32 billion, a P/E ratio of -13.92 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.17). During the same quarter in the previous year, the business posted ($0.83) EPS. On average, equities analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current year.

Xenon Pharmaceuticals Company 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.