Allspring Global Investments Holdings LLC Makes New Investment in Xenon Pharmaceuticals Inc. $XENE

Allspring Global Investments Holdings LLC purchased a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the first quarter, Holdings Channel reports. The firm purchased 246,306 shares of the biopharmaceutical company’s stock, valued at approximately $13,963,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Xenon Pharmaceuticals by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock valued at $14,854,000 after purchasing an additional 32,486 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $532,000. Sei Investments Co. acquired a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $711,000. The Manufacturers Life Insurance Company bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter valued at about $816,000. Finally, Alliancebernstein L.P. raised its stake in Xenon Pharmaceuticals by 14.2% during the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company’s stock worth $47,530,000 after acquiring an additional 189,141 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Price Performance

XENE opened at $66.74 on Wednesday. The stock’s 50 day moving average price is $57.68 and its 200 day moving average price is $52.23. The stock has a market cap of $6.45 billion, a P/E ratio of -14.20 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, meeting analysts’ consensus estimates of ($1.17). During the same period last year, the business earned ($0.83) EPS. Equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

Insider Activity at Xenon Pharmaceuticals

In other news, Director Gary Patou sold 1,322 shares of Xenon Pharmaceuticals stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $70,251.08. Following the transaction, the director directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of Xenon Pharmaceuticals stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director owned 1,455 shares in the company, valued at approximately $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.91% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XENE. Needham & Company LLC lowered their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company restated an “overweight” rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Royal Bank Of Canada increased their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $77.20.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.