Commodore Capital LP Trims Position in Xenon Pharmaceuticals Inc. $XENE

Commodore Capital LP reduced its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 54.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 825,000 shares of the biopharmaceutical company’s stock after selling 975,000 shares during the period. Xenon Pharmaceuticals makes up approximately 2.8% of Commodore Capital LP’s portfolio, making the stock its 15th biggest holding. Commodore Capital LP owned 0.85% of Xenon Pharmaceuticals worth $47,974,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of XENE. Avoro Capital Advisors LLC grew its position in Xenon Pharmaceuticals by 0.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock valued at $243,124,000 after buying an additional 24,444 shares during the period. Janus Henderson Group PLC grew its stake in Xenon Pharmaceuticals by 3.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,084,034 shares of the biopharmaceutical company’s stock valued at $183,110,000 after acquiring an additional 140,149 shares during the period. Wellington Management Group LLP raised its position in shares of Xenon Pharmaceuticals by 66.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after purchasing an additional 1,435,096 shares during the last quarter. Capital International Investors boosted its holdings in Xenon Pharmaceuticals by 7.3% in the 4th quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock worth $153,058,000 after buying an additional 233,466 shares during the last quarter. Finally, Vestal Point Capital LP increased its stake in Xenon Pharmaceuticals by 53.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $62,600,000 after buying an additional 700,000 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $65.42 on Monday. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -13.92 and a beta of 0.61. The business has a 50-day moving average of $58.30 and a 200 day moving average of $52.69. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $72.66.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on XENE shares. Royal Bank Of Canada raised their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Needham & Company LLC lowered their price target on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $77.20.

Insider Buying and Selling

In other news, Director Gillian Cannon sold 1,190 shares of the 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 completion of the sale, the director owned 1,455 shares in the company, valued at approximately $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary Patou sold 1,322 shares of the stock in a transaction that occurred on 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 $1,322,973.44. The trade was a 5.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.91% of the stock is currently owned by company insiders.

About Xenon Pharmaceuticals

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.