Shell Asset Management Co. Trims Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Shell Asset Management Co. decreased its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Rating) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,031 shares of the biopharmaceutical company’s stock after selling 3,298 shares during the quarter. Shell Asset Management Co.’s holdings in Xenon Pharmaceuticals were worth $673,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth $1,628,000. Brown Advisory Inc. purchased a new stake in Xenon Pharmaceuticals in the fourth quarter valued at approximately $403,000. Qube Research & Technologies Ltd purchased a new stake in Xenon Pharmaceuticals in the fourth quarter valued at approximately $447,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Xenon Pharmaceuticals by 127.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,565 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 5,364 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth approximately $253,000.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $31.68 on Tuesday. The company has a market cap of $1.68 billion, a P/E ratio of -17.70 and a beta of 1.53. Xenon Pharmaceuticals Inc. has a one year low of $14.65 and a one year high of $36.42. The business’s 50-day simple moving average is $30.78 and its 200 day simple moving average is $30.51.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last announced its earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. The business had revenue of $8.77 million for the quarter, compared to the consensus estimate of $9.22 million. Xenon Pharmaceuticals had a negative return on equity of 20.94% and a negative net margin of 360.80%. During the same period last year, the business posted ($0.42) EPS. Analysts predict that Xenon Pharmaceuticals Inc. will post -2.07 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on XENE. StockNews.com raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Wedbush decreased their price objective on Xenon Pharmaceuticals from $47.00 to $41.00 and set an “outperform” rating on the stock in a research note on Monday, June 27th. Finally, JPMorgan Chase & Co. initiated coverage on Xenon Pharmaceuticals in a research note on Thursday, July 21st. They set an “overweight” rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Xenon Pharmaceuticals Company Profile

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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 epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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Institutional Ownership by Quarter for Xenon Pharmaceuticals (NASDAQ:XENE)

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