Bellevue Group AG Cuts Stock Holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bellevue Group AG reduced its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 19.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,200 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the quarter. Bellevue Group AG’s holdings in Xenon Pharmaceuticals were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its holdings in Xenon Pharmaceuticals by 647.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock worth $940,000 after acquiring an additional 20,891 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Xenon Pharmaceuticals by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock valued at $27,843,000 after purchasing an additional 46,964 shares in the last quarter. DNB Asset Management AS boosted its holdings in Xenon Pharmaceuticals by 39.2% during the second quarter. DNB Asset Management AS now owns 175,733 shares of the biopharmaceutical company’s stock worth $6,852,000 after purchasing an additional 49,483 shares during the last quarter. Vestal Point Capital LP grew its position in Xenon Pharmaceuticals by 57.1% in the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after buying an additional 97,732 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now directly owns 23,573 shares in the company, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.52% of the stock is owned by insiders.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $42.63 on Monday. Xenon Pharmaceuticals Inc. has a fifty-two week low of $35.18 and a fifty-two week high of $50.99. The business has a 50-day moving average of $41.47 and a 200 day moving average of $40.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS. On average, research analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

XENE has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Raymond James reiterated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $57.45.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.