Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Acquired by abrdn plc

abrdn plc boosted its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 14.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 283,899 shares of the biopharmaceutical company’s stock after purchasing an additional 35,588 shares during the quarter. abrdn plc owned about 0.37% of Xenon Pharmaceuticals worth $11,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Xenon Pharmaceuticals in the 4th quarter worth approximately $101,000. nVerses Capital LLC purchased a new stake in Xenon Pharmaceuticals in the 3rd quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 487 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,383 shares of company stock valued at $2,535,891. Company insiders own 5.52% of the company’s stock.

Analyst Ratings Changes

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

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $39.21 on Friday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -13.90 and a beta of 1.20. Xenon Pharmaceuticals Inc. has a 12 month low of $35.53 and a 12 month high of $50.99. The stock’s 50-day moving average is $40.04 and its 200-day moving average is $40.71.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the previous year, the business posted ($0.73) earnings per share. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.13 EPS for the current year.

Xenon Pharmaceuticals Company 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.