Capital World Investors Has $89.95 Million Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Capital World Investors cut its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 14.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,294,537 shares of the biopharmaceutical company’s stock after selling 387,000 shares during the quarter. Capital World Investors’ holdings in Xenon Pharmaceuticals were worth $89,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 1,414 shares during the period. Avior Wealth Management LLC bought a new stake in Xenon Pharmaceuticals during the 4th quarter valued at $101,000. KBC Group NV raised its holdings in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 780 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter valued at $210,000. Finally, HighMark Wealth Management LLC grew its holdings in shares of Xenon Pharmaceuticals by 22.0% during the fourth quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 1,100 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on XENE shares. StockNews.com cut shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

Insider Activity at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 16,315 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the sale, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,267,731. The trade was a 34.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.52% of the stock is currently owned by company insiders.

Xenon Pharmaceuticals Stock Down 1.2 %

Shares of XENE stock opened at $34.70 on Tuesday. The firm has a market cap of $2.66 billion, a P/E ratio of -12.30 and a beta of 1.21. The company has a 50 day moving average of $34.92 and a 200-day moving average of $38.74. Xenon Pharmaceuticals Inc. has a 12-month low of $26.74 and a 12-month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05. As a group, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

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.