Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock Position Boosted by Affinity Asset Advisors LLC

Affinity Asset Advisors LLC increased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 18.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 994,227 shares of the biopharmaceutical company’s stock after purchasing an additional 156,840 shares during the quarter. Xenon Pharmaceuticals makes up approximately 4.5% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Affinity Asset Advisors LLC owned about 1.32% of Xenon Pharmaceuticals worth $38,765,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Xenon Pharmaceuticals by 140.9% during the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after purchasing an additional 2,434,546 shares during the last quarter. First Light Asset Management LLC boosted its stake in Xenon Pharmaceuticals by 173.3% during the fourth quarter. First Light Asset Management LLC now owns 1,645,490 shares of the biopharmaceutical company’s stock worth $75,791,000 after buying an additional 1,043,420 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in Xenon Pharmaceuticals by 15.6% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock valued at $261,007,000 after buying an additional 766,666 shares in the last quarter. Avidity Partners Management LP increased its stake in shares of Xenon Pharmaceuticals by 153.9% in the 4th quarter. Avidity Partners Management LP now owns 815,993 shares of the biopharmaceutical company’s stock worth $37,585,000 after acquiring an additional 494,593 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its position in shares of Xenon Pharmaceuticals by 78.3% during the 4th quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock valued at $50,700,000 after acquiring an additional 483,248 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Trading Down 1.8 %

Shares of Xenon Pharmaceuticals stock opened at $38.93 on Wednesday. Xenon Pharmaceuticals Inc. has a 52-week low of $27.99 and a 52-week high of $50.99. The company has a 50 day moving average of $40.68 and a 200 day moving average of $40.49.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced 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 quarter last year, the business earned ($0.72) EPS. On average, research analysts predict that Xenon Pharmaceuticals Inc. will post -3.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

XENE has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Wedbush cut their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Needham & Company LLC decreased their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $58.78.

About Xenon Pharmaceuticals

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.