Engineers Gate Manager LP Acquires 52,857 Shares of Xenon Pharmaceuticals Inc. $XENE

Engineers Gate Manager LP raised its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 566.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,183 shares of the biopharmaceutical company’s stock after buying an additional 52,857 shares during the period. Engineers Gate Manager LP’s holdings in Xenon Pharmaceuticals were worth $3,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cinctive Capital Management LP grew its position in Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock worth $1,045,000 after acquiring an additional 263 shares during the last quarter. State of Wyoming lifted its position in Xenon Pharmaceuticals by 30.4% in the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 350 shares during the last quarter. Corient Private Wealth LP boosted its stake in shares of Xenon Pharmaceuticals by 1.5% during the second quarter. Corient Private Wealth LP now owns 28,732 shares of the biopharmaceutical company’s stock valued at $1,734,000 after purchasing an additional 430 shares during the period. Quarry LP grew its holdings in shares of Xenon Pharmaceuticals by 25.0% in the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 500 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Arizona State Retirement System now owns 22,382 shares of the biopharmaceutical company’s stock worth $1,351,000 after purchasing an additional 513 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ XENE opened at $58.65 on Friday. The firm has a fifty day simple moving average of $63.43 and a two-hundred day simple moving average of $57.61. Xenon Pharmaceuticals Inc. has a 12 month low of $35.60 and a 12 month high of $72.66. The firm has a market capitalization of $5.67 billion, a PE ratio of -12.37 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the prior year, the business posted ($1.07) EPS. On average, sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current year.

Analysts Set New Price Targets

XENE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Royal Bank Of Canada reduced their price target on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $77.13.

Insider Activity at Xenon Pharmaceuticals

In other news, insider Christopher Kenney sold 7,068 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the transaction, the insider owned 2 shares in the company, valued at $120.50. This trade represents a 99.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Gannon sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the sale, the director directly owned 1,870 shares in the company, valued at approximately $119,792.20. The trade was a 84.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.91% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc (NASDAQ:XENE) is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its expertise in ion channels, which regulate the electrical activity of nerve cells, to discover and advance potential treatments for conditions with significant unmet medical needs.

Xenon’s leading investigational product is azetukalner (XEN1101), an oral, small-molecule potassium-channel opener being studied in epilepsy, including focal-onset seizures, and major depressive disorder.