Assetmark Inc. Has $669,000 Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Assetmark Inc. reduced its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,934 shares of the biopharmaceutical company’s stock after selling 1,651 shares during the period. Assetmark Inc.’s holdings in Xenon Pharmaceuticals were worth $669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its stake in Xenon Pharmaceuticals by 8.8% in the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock valued at $294,991,000 after buying an additional 607,606 shares during the last quarter. Boxer Capital Management LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter valued at about $23,520,000. JPMorgan Chase & Co. grew its position in shares of Xenon Pharmaceuticals by 38.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company’s stock valued at $53,190,000 after purchasing an additional 380,112 shares during the last quarter. Stempoint Capital LP bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth about $14,733,000. Finally, Janus Henderson Group PLC lifted its position in shares of Xenon Pharmaceuticals by 12.3% during the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock worth $112,425,000 after purchasing an additional 314,363 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $30.50 on Friday. The company has a 50-day moving average of $31.52 and a 200-day moving average of $34.35. Xenon Pharmaceuticals Inc. has a 52 week low of $26.74 and a 52 week high of $46.00. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -9.44 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07. The business had revenue of $7.50 million for the quarter, compared to the consensus estimate of $1.64 million. During the same quarter in the prior year, the business earned ($0.62) EPS. Sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

XENE has been the subject of several research reports. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Wells Fargo & Company cut their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. Chardan Capital restated a “buy” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada reduced their target price on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.82.

Xenon Pharmaceuticals 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.