Redmile Group LLC Buys 128,792 Shares of Xenon Pharmaceuticals Inc. $XENE

Redmile Group LLC increased its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 96.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,674 shares of the biopharmaceutical company’s stock after acquiring an additional 128,792 shares during the period. Xenon Pharmaceuticals comprises approximately 1.0% of Redmile Group LLC’s portfolio, making the stock its 17th largest position. Redmile Group LLC’s holdings in Xenon Pharmaceuticals were worth $15,274,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Holocene Advisors LP bought a new stake in Xenon Pharmaceuticals during the second quarter worth about $56,637,000. Wellington Management Group LLP increased 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 valued at $144,936,000 after purchasing an additional 1,435,096 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Xenon Pharmaceuticals by 1,968.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company’s stock valued at $38,650,000 after buying an additional 820,608 shares in the last quarter. Vestal Point Capital LP raised its holdings in shares of 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 valued at $62,600,000 after buying an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP lifted its position in Xenon Pharmaceuticals by 30.1% in the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock worth $94,682,000 after buying an additional 700,000 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Insider Transactions at Xenon Pharmaceuticals

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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary Patou sold 1,322 shares of the firm’s stock in a transaction dated 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 directly owned 24,896 shares in the company, 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 insiders.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $64.94 on Wednesday. Xenon Pharmaceuticals Inc. has a 52-week low of $30.00 and a 52-week high of $72.66. The company’s 50 day moving average price is $58.76 and its 200-day moving average price is $53.03. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -13.82 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, meeting analysts’ consensus estimates of ($1.17). During the same quarter in the prior year, the business earned ($0.83) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on XENE. Royal Bank Of Canada lifted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Wells Fargo & Company reissued an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Finally, Needham & Company LLC reduced their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus 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.