Xenon Pharmaceuticals Inc. $XENE is Affinity Asset Advisors LLC’s 3rd Largest Position

Affinity Asset Advisors LLC reduced its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 17.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,100,000 shares of the biopharmaceutical company’s stock after selling 228,175 shares during the period. Xenon Pharmaceuticals accounts for 4.7% of Affinity Asset Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Affinity Asset Advisors LLC owned 1.43% of Xenon Pharmaceuticals worth $34,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC purchased a new position in Xenon Pharmaceuticals in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Xenon Pharmaceuticals during the first quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Xenon Pharmaceuticals in the second quarter worth $32,000. Amalgamated Bank bought a new position in shares of Xenon Pharmaceuticals during the second quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xenon Pharmaceuticals by 15.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $45.01 on Friday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -11.57 and a beta of 1.03. The stock has a 50 day moving average price of $41.23 and a 200-day moving average price of $36.42. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $45.32.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.01. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.81) EPS. Sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $44.00 price target (down from $48.00) on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their target price on Xenon Pharmaceuticals from $57.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.27.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief executive officer owned 31,302 shares in the company, valued at $1,257,088.32. The trade was a 44.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.07% of the stock is owned by company insiders.

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.