Samlyn Capital LLC Raises Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Samlyn Capital LLC lifted its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 61.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 639,685 shares of the biopharmaceutical company’s stock after buying an additional 243,489 shares during the quarter. Samlyn Capital LLC owned approximately 0.85% of Xenon Pharmaceuticals worth $24,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avoro Capital Advisors LLC boosted its position in shares of Xenon Pharmaceuticals by 15.6% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock worth $261,007,000 after acquiring an additional 766,666 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Xenon Pharmaceuticals by 140.9% in the fourth quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after acquiring an additional 2,434,546 shares during the last quarter. Capital World Investors boosted its position in shares of Xenon Pharmaceuticals by 17.9% in the fourth quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after acquiring an additional 406,563 shares during the last quarter. Capital International Investors boosted its position in shares of Xenon Pharmaceuticals by 0.8% in the first quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after acquiring an additional 20,176 shares during the last quarter. Finally, Commodore Capital LP boosted its position in shares of Xenon Pharmaceuticals by 17.5% in the fourth quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock worth $99,849,000 after acquiring an additional 322,793 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Trading Down 1.2 %

NASDAQ XENE opened at $39.65 on Tuesday. The company’s fifty day simple moving average is $40.76 and its 200-day simple moving average is $40.54. Xenon Pharmaceuticals Inc. has a 52 week low of $27.99 and a 52 week high of $50.99. The stock has a market cap of $2.99 billion, a P/E ratio of -14.63 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period last year, the business earned ($0.72) EPS. On average, research analysts expect that Xenon Pharmaceuticals Inc. will post -3.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Needham & Company LLC reduced their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, Wedbush reduced their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $58.78.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.