Xenon Pharmaceuticals Inc. $XENE Position Boosted by Pictet Asset Management Holding SA

by · The Cerbat Gem

Pictet Asset Management Holding SA increased its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) by 23.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,468,072 shares of the biopharmaceutical company’s stock after purchasing an additional 280,349 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Xenon Pharmaceuticals were worth $54,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Xenon Pharmaceuticals by 60.2% during the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 312 shares during the last quarter. Corient Private Wealth LP lifted its position in Xenon Pharmaceuticals by 1.5% during the 2nd quarter. Corient Private Wealth LP now owns 28,732 shares of the biopharmaceutical company’s stock valued at $1,734,000 after purchasing an additional 430 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 25.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 467 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 22,382 shares of the biopharmaceutical company’s stock valued at $1,351,000 after purchasing an additional 513 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Xenon Pharmaceuticals by 418.5% in the 3rd quarter. Covestor Ltd now owns 674 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 544 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CFO Thomas Patrick Kelly acquired 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were acquired at an average price of $37.32 per share, with a total value of $559,800.00. Following the purchase, the chief financial officer owned 15,000 shares of the company’s stock, valued at $559,800. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ian Mortimer acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were acquired at an average cost of $37.38 per share, for a total transaction of $1,121,400.00. Following the purchase, the chief executive officer directly owned 49,923 shares in the company, valued at $1,866,121.74. This trade represents a 150.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.91% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $40.45 on Tuesday. Xenon Pharmaceuticals Inc. has a 52-week low of $33.38 and a 52-week high of $72.66. The firm has a 50 day moving average price of $42.64 and a 200 day moving average price of $52.14.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.02. On average, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -4.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on XENE shares. Wells Fargo & Company lowered their price target on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Royal Bank Of Canada cut their price objective on shares of Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Needham & Company LLC reduced their price objective on shares of Xenon Pharmaceuticals from $78.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, September 18th. Robert W. Baird lowered their target price on shares of Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, September 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.31.

Get Our Latest Stock Report on Xenon Pharmaceuticals

Xenon Pharmaceuticals Company Profile

(Free Report)

Xenon Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for neurological disorders. The company’s research emphasizes ion channels, proteins that help regulate the electrical activity of nerve cells.

Its lead program is azetukalner, formerly known as XEN1101, an oral Kv7 potassium-channel opener being developed for seizure disorders, including focal epilepsy. Xenon is also advancing other drug candidates aimed at neurological conditions.

Founded in 1996, Xenon is headquartered in Burnaby, British Columbia, and conducts drug development activities in North America.

Further Reading

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