Hsbc Holdings PLC Acquires 29,916 Shares of Xenon Pharmaceuticals Inc. $XENE

Hsbc Holdings PLC grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 24.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,474 shares of the biopharmaceutical company’s stock after purchasing an additional 29,916 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of Xenon Pharmaceuticals worth $9,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in XENE. Cinctive Capital Management LP increased its holdings in Xenon Pharmaceuticals by 1.1% in the fourth quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock valued at $1,045,000 after purchasing an additional 263 shares during the last quarter. State of Wyoming boosted its holdings in Xenon Pharmaceuticals by 30.4% during the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 350 shares during the last quarter. Quarry LP boosted its holdings in Xenon Pharmaceuticals by 25.0% during the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 500 shares during the last quarter. Royal Bank of Canada boosted its holdings in Xenon Pharmaceuticals by 0.7% during the first quarter. Royal Bank of Canada now owns 90,387 shares of the biopharmaceutical company’s stock worth $5,255,000 after buying an additional 630 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Xenon Pharmaceuticals by 11.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company’s stock worth $295,000 after buying an additional 675 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on XENE shares. Wall Street Zen raised Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Royal Bank Of Canada reduced their price objective on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. JPMorgan Chase & Co. upped their target price 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $77.13.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $58.98 on Thursday. The company has a market capitalization of $5.70 billion, a P/E ratio of -12.44 and a beta of 0.61. The business has a 50-day moving average of $63.51 and a two-hundred day moving average of $57.48. Xenon Pharmaceuticals Inc. has a 1 year low of $35.60 and a 1 year high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same period in the prior year, the firm posted ($1.07) EPS. On average, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

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

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.