Renaissance Technologies LLC Takes $17.47 Million Position in Xenon Pharmaceuticals Inc. $XENE

Renaissance Technologies LLC acquired a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 300,500 shares of the biopharmaceutical company’s stock, valued at approximately $17,474,000. Renaissance Technologies LLC owned approximately 0.31% of Xenon Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XENE. Danske Bank A S acquired a new stake in shares of Xenon Pharmaceuticals in the 3rd quarter valued at about $32,000. Blue Trust Inc. boosted its position in shares of Xenon Pharmaceuticals by 2,560.7% during the fourth quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 717 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $33,000. Osaic Holdings Inc. grew its holdings in shares of Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 1,034 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Xenon Pharmaceuticals in the 4th quarter valued at approximately $43,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Up 1.7%

Shares of Xenon Pharmaceuticals stock opened at $64.19 on Friday. Xenon Pharmaceuticals Inc. has a twelve month low of $30.00 and a twelve month high of $72.66. The company has a 50-day simple moving average of $59.13 and a two-hundred day simple moving average of $53.34. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of -13.66 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.17). During the same quarter last year, the company earned ($0.83) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Activity

In other Xenon Pharmaceuticals 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 sale, the director directly owned 1,455 shares in the company, valued at $77,318.70. This represents a 44.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $70,251.08. Following the sale, the director owned 24,896 shares in the company, valued at $1,322,973.44. This represents a 5.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on XENE shares. JPMorgan Chase & Co. lifted their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Wells Fargo & Company restated an “overweight” rating and set a $69.00 target price on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Royal Bank Of Canada lifted their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Needham & Company LLC decreased 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 note on Friday, May 8th. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $77.20.

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.