Christopher John Kenney Sells 7,068 Shares of Xenon Pharmaceuticals (NASDAQ:XENE) Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) insider Christopher John Kenney sold 7,068 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $60.25, for a total transaction of $425,847.00. Following the completion of the sale, the insider directly owned 2 shares in the company, valued at approximately $120.50. This trade represents a 99.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $60.16 on Thursday. Xenon Pharmaceuticals Inc. has a one year low of $35.60 and a one year high of $72.66. The firm has a market capitalization of $5.82 billion, a P/E ratio of -12.69 and a beta of 0.61. The business has a fifty day moving average price of $63.49 and a 200-day moving average price of $56.86.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same quarter in the previous year, the firm earned ($1.07) earnings per share. Sell-side analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently modified their holdings of XENE. Corient Private Wealth LP raised its holdings in shares of Xenon Pharmaceuticals by 1.5% during the 2nd quarter. Corient Private Wealth LP now owns 28,732 shares of the biopharmaceutical company’s stock valued at $1,734,000 after buying an additional 430 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Xenon Pharmaceuticals by 5,935.5% during the second quarter. California State Teachers Retirement System now owns 5,597,786 shares of the biopharmaceutical company’s stock worth $337,882,000 after acquiring an additional 5,505,039 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Xenon Pharmaceuticals by 377.0% during the second quarter. Headlands Technologies LLC now owns 29,194 shares of the biopharmaceutical company’s stock worth $1,762,000 after acquiring an additional 23,074 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth approximately $206,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Xenon Pharmaceuticals by 24.6% in the 2nd quarter. Hsbc Holdings PLC now owns 151,474 shares of the biopharmaceutical company’s stock worth $9,143,000 after acquiring an additional 29,916 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Needham & Company LLC dropped their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $77.13.

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.