7,658 Shares in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,658 shares of the biopharmaceutical company’s stock, valued at approximately $234,000.

A number of other hedge funds have also recently added to or reduced their stakes in XENE. JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 33.4% during the first quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock worth $194,000 after buying an additional 1,596 shares in the last quarter. ProShare Advisors LLC acquired a new position in Xenon Pharmaceuticals during the fourth quarter worth $227,000. Victory Capital Management Inc. acquired a new position in Xenon Pharmaceuticals during the fourth quarter worth $236,000. Arizona State Retirement System raised its position in Xenon Pharmaceuticals by 4.5% during the first quarter. Arizona State Retirement System now owns 11,156 shares of the biopharmaceutical company’s stock worth $341,000 after acquiring an additional 477 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Xenon Pharmaceuticals during the first quarter worth $350,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $39.00 on Tuesday. Xenon Pharmaceuticals Inc. has a 12-month low of $14.65 and a 12-month high of $41.39. The firm has a 50-day moving average price of $34.60 and a 200 day moving average price of $31.84.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). Xenon Pharmaceuticals had a negative net margin of 432.24% and a negative return on equity of 17.33%. The firm had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $3.25 million. During the same period in the prior year, the company posted ($0.51) EPS. The company’s revenue for the quarter was down 75.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wedbush upped their price objective on shares of Xenon Pharmaceuticals from $41.00 to $50.00 in a research report on Wednesday, August 10th. Bank of America assumed coverage on shares of Xenon Pharmaceuticals in a research report on Monday, August 29th. They set a “buy” rating and a $45.00 price objective for the company. SVB Leerink upped their price objective on shares of Xenon Pharmaceuticals from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. StockNews.com upgraded shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Finally, JPMorgan Chase & Co. began coverage on shares of Xenon Pharmaceuticals in a research report on Thursday, July 21st. They issued an “overweight” rating and a $55.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.43.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Simon N. Pimstone sold 33,942 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $37.76, for a total value of $1,281,649.92. Following the completion of the sale, the director now owns 58,058 shares of the company’s stock, valued at $2,192,270.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Xenon Pharmaceuticals news, Director Simon N. Pimstone sold 33,942 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $37.76, for a total transaction of $1,281,649.92. Following the completion of the transaction, the director now owns 58,058 shares of the company’s stock, valued at $2,192,270.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Simon N. Pimstone sold 91,135 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $38.28, for a total transaction of $3,488,647.80. Following the transaction, the director now directly owns 92,000 shares of the company’s stock, valued at approximately $3,521,760. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,820 shares of company stock valued at $6,982,432. 6.06% of the stock is owned by company insiders.

Xenon Pharmaceuticals Company Profile

(Get Rating)

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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