Renaissance Technologies LLC Decreases Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Renaissance Technologies LLC lessened its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 68.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,700 shares of the biopharmaceutical company’s stock after selling 30,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Xenon Pharmaceuticals were worth $537,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in XENE. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 1,414 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth $101,000. KBC Group NV increased its holdings in shares of Xenon Pharmaceuticals by 39.8% in the 4th 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 stake in shares of Xenon Pharmaceuticals in the 4th quarter worth about $210,000. Finally, HighMark Wealth Management LLC raised its position in shares of Xenon Pharmaceuticals by 22.0% during the 4th 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 in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $38.28 on Friday. Xenon Pharmaceuticals Inc. has a 12 month low of $26.74 and a 12 month high of $46.00. The firm’s 50-day moving average is $34.74 and its 200 day moving average is $38.57. The company has a market capitalization of $2.93 billion, a PE ratio of -13.57 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. Sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Xenon Pharmaceuticals

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.