Atika Capital Management LLC Cuts Stock Position in Xenon Pharmaceuticals Inc. $XENE

Atika Capital Management LLC cut its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 35.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,900 shares of the biopharmaceutical company’s stock after selling 32,606 shares during the quarter. Atika Capital Management LLC’s holdings in Xenon Pharmaceuticals were worth $3,483,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of XENE. Assenagon Asset Management S.A. acquired a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $5,342,000. Peregrine Capital Management LLC acquired a new stake in Xenon Pharmaceuticals during the 4th quarter worth $7,837,000. Jennison Associates LLC grew its stake in Xenon Pharmaceuticals by 13.8% in the fourth quarter. Jennison Associates LLC now owns 1,292,055 shares of the biopharmaceutical company’s stock valued at $57,910,000 after acquiring an additional 156,820 shares during the period. NEXTBio Capital Management LP bought a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $8,234,000. Finally, DNB Asset Management AS increased its holdings in shares of Xenon Pharmaceuticals by 9.5% in the fourth quarter. DNB Asset Management AS now owns 272,831 shares of the biopharmaceutical company’s stock worth $12,228,000 after acquiring an additional 23,750 shares in 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 $65.42 on Friday. Xenon Pharmaceuticals Inc. has a 52 week low of $30.00 and a 52 week high of $72.66. The stock’s 50 day moving average price is $58.08 and its two-hundred day moving average price is $52.53. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of -13.92 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, hitting the consensus estimate of ($1.17). During the same quarter in the prior year, the firm earned ($0.83) EPS. On average, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report 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 note on Friday, May 8th. Wells Fargo & Company reissued an “overweight” rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two equities research 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 company. According to MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $77.20.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, Director Gillian Cannon sold 1,190 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director directly owned 1,455 shares of the company’s stock, valued at $77,318.70. The trade was a 44.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary Patou sold 1,322 shares of the stock in a transaction dated 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 owned 24,896 shares of the company’s stock, valued at approximately $1,322,973.44. This represents a 5.04% 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 currently owned by company insiders.

Xenon Pharmaceuticals Company 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.