Blue Trust Inc. Raises Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Blue Trust Inc. grew its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 140.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,422 shares of the biopharmaceutical company’s stock after buying an additional 1,414 shares during the period. Blue Trust Inc.’s holdings in Xenon Pharmaceuticals were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Avior Wealth Management LLC acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at $101,000. nVerses Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals in the 3rd quarter valued at about $102,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares during the period. Vestcor Inc purchased a new position in Xenon Pharmaceuticals during the 3rd quarter worth approximately $327,000. Finally, Elmwood Wealth Management Inc. increased its position in Xenon Pharmaceuticals by 44.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company’s stock worth $431,000 after buying an additional 3,400 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $39.21 on Friday. The business has a 50 day simple moving average of $40.04 and a 200-day simple moving average of $40.71. Xenon Pharmaceuticals Inc. has a 12 month low of $35.53 and a 12 month high of $50.99. The stock has a market capitalization of $2.99 billion, a PE ratio of -13.90 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the company posted ($0.73) EPS. As a group, equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.13 EPS for the current year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary Patou sold 4,891 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,383 shares of company stock valued at $2,535,891 over the last ninety days. Corporate insiders own 5.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $56.00.

Xenon Pharmaceuticals Profile

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.