Insider Selling: Xenon Pharmaceuticals (NASDAQ:XENE) Insider Sells 7,068 Shares of Stock

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

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $60.22 on Tuesday. The business’s fifty day moving average price is $63.29 and its 200 day moving average price is $56.61. The firm has a market capitalization of $5.82 billion, a PE ratio of -12.70 and a beta of 0.62. 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 earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same period last year, the company posted ($1.07) earnings per share. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Xenon Pharmaceuticals in the 2nd quarter worth approximately $454,057,000. Siren L.L.C. increased its stake in Xenon Pharmaceuticals by 62.2% in the first quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company’s stock valued at $76,674,000 after purchasing an additional 505,803 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Xenon Pharmaceuticals by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 396,138 shares of the biopharmaceutical company’s stock valued at $23,035,000 after purchasing an additional 8,980 shares during the last quarter. Castleark Management LLC purchased a new position in Xenon Pharmaceuticals during the first quarter worth about $3,754,000. Finally, Nicholas Investment Partners LP lifted its position in Xenon Pharmaceuticals by 104.0% during the fourth quarter. Nicholas Investment Partners LP now owns 242,989 shares of the biopharmaceutical company’s stock worth $10,891,000 after buying an additional 123,891 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Needham & Company LLC lowered their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Royal Bank Of Canada cut their price target on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Two investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price 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.