Commodore Capital LP Sells 900,000 Shares of Xenon Pharmaceuticals Inc. $XENE

Commodore Capital LP decreased its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 33.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,800,000 shares of the biopharmaceutical company’s stock after selling 900,000 shares during the period. Xenon Pharmaceuticals accounts for about 5.4% of Commodore Capital LP’s holdings, making the stock its 4th largest position. Commodore Capital LP owned about 2.33% of Xenon Pharmaceuticals worth $80,676,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Neo Ivy Capital Management acquired a new position in shares of Xenon Pharmaceuticals during the 3rd quarter valued at about $2,001,000. JPMorgan Chase & Co. increased its holdings in shares of Xenon Pharmaceuticals by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock valued at $56,171,000 after acquiring an additional 142,452 shares during the last quarter. HighVista Strategies LLC increased its holdings in shares of Xenon Pharmaceuticals by 80.2% during the 3rd quarter. HighVista Strategies LLC now owns 82,190 shares of the biopharmaceutical company’s stock valued at $3,300,000 after acquiring an additional 36,570 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $5,342,000. Finally, Peregrine Capital Management LLC acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $7,837,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Up 2.3%

XENE opened at $53.20 on Thursday. The firm has a market capitalization of $5.14 billion, a P/E ratio of -11.32 and a beta of 0.62. The stock’s 50 day moving average price is $55.16 and its two-hundred day moving average price is $49.17. Xenon Pharmaceuticals Inc. has a 12-month low of $30.00 and a 12-month high of $63.95.

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, meeting analysts’ consensus estimates of ($1.17). During the same period last year, the business posted ($0.83) earnings per share. As a group, analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the firm’s 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 completion of the sale, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the firm’s 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 $63,236.60. Following the completion of the sale, the director owned 1,455 shares of the company’s stock, valued at $77,318.70. This represents a 44.99% decrease in their position. The SEC filing for this sale provides additional information. 4.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on XENE shares. HC Wainwright increased their price objective on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft raised their target price on Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Bank of America reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Finally, Robert W. Baird raised their target price on Xenon Pharmaceuticals from $63.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Two investment 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. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $77.20.

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.