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

Affinity Asset Advisors LLC cut its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,100,000 shares of the biopharmaceutical company’s stock after selling 228,175 shares during the quarter. Xenon Pharmaceuticals comprises about 4.7% of Affinity Asset Advisors LLC’s portfolio, making the stock its 3rd biggest position. Affinity Asset Advisors LLC’s holdings in Xenon Pharmaceuticals were worth $34,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Marshall Wace LLP raised its stake in shares of Xenon Pharmaceuticals by 34.6% during the 2nd quarter. Marshall Wace LLP now owns 1,020,254 shares of the biopharmaceutical company’s stock valued at $31,934,000 after buying an additional 262,109 shares during the last quarter. Saturn V Capital Management LP grew its holdings in Xenon Pharmaceuticals by 13.2% during the second quarter. Saturn V Capital Management LP now owns 468,364 shares of the biopharmaceutical company’s stock worth $14,660,000 after acquiring an additional 54,653 shares during the period. New York State Common Retirement Fund raised its position in Xenon Pharmaceuticals by 16.9% during the second quarter. New York State Common Retirement Fund now owns 166,472 shares of the biopharmaceutical company’s stock valued at $5,211,000 after acquiring an additional 24,100 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Xenon Pharmaceuticals in the second quarter valued at approximately $32,000. Finally, Foresite Capital Management VI LLC acquired a new position in Xenon Pharmaceuticals in the second quarter valued at approximately $5,008,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $45.01 on Friday. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $45.32. The stock has a market capitalization 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 (NASDAQ:XENE) last announced its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.01. During the same period in the previous year, the business posted ($0.81) earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the transaction, the chief executive officer directly owned 31,302 shares in the company, valued at approximately $1,257,088.32. The trade was a 44.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on XENE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Xenon Pharmaceuticals from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Royal Bank Of Canada lifted their price objective on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Finally, Bloom Burton upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, October 7th. Two research 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’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $54.27.

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.