Bank of New York Mellon Corp Sells 2,294 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bank of New York Mellon Corp decreased its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,597 shares of the biopharmaceutical company’s stock after selling 2,294 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.06% of Xenon Pharmaceuticals worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of XENE. Janus Henderson Group PLC raised its position in Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock valued at $100,506,000 after purchasing an additional 1,507,135 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after buying an additional 905,129 shares during the period. Vestal Point Capital LP increased its stake in shares of Xenon Pharmaceuticals by 57.1% in the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after buying an additional 300,000 shares during the period. Jennison Associates LLC increased its stake in shares of Xenon Pharmaceuticals by 39.0% in the 4th quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock valued at $31,421,000 after buying an additional 224,892 shares during the period. Finally, FMR LLC increased its stake in shares of Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock valued at $272,349,000 after buying an additional 149,511 shares during the period. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $35.34 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -12.53 and a beta of 1.26. The stock’s 50-day moving average is $38.14 and its 200-day moving average is $39.88. Xenon Pharmaceuticals Inc. has a one year low of $33.27 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. On average, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Analyst Upgrades and Downgrades

XENE has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.38.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the sale, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.52% of the stock is currently owned by corporate insiders.

About Xenon Pharmaceuticals

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.