Xenon Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 4,063 put options on the stock. This represents an increase of 2,362% compared to the average daily volume of 165 put options.

Xenon Pharmaceuticals Trading Up 1.3%

NASDAQ:XENE opened at $43.08 on Friday. The business’s 50-day moving average is $42.46 and its 200 day moving average is $40.59. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.60. The company has a market capitalization of $3.33 billion, a P/E ratio of -11.07 and a beta of 0.96.

Wall Street Analyst Weigh In

XENE has been the topic of several research analyst reports. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada boosted their price objective on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wells Fargo & Company raised their target price on shares of Xenon Pharmaceuticals from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $54.73.

Insider Activity at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 40,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total value of $1,777,200.00. Following the sale, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at approximately $266,580. This represents a 86.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 65,302 shares of company stock valued at $2,924,128. Insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cinctive Capital Management LP lifted its position in shares of Xenon Pharmaceuticals by 1.1% during the fourth quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock valued at $1,045,000 after buying an additional 263 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Xenon Pharmaceuticals by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 19,290 shares of the biopharmaceutical company’s stock worth $774,000 after acquiring an additional 334 shares in the last quarter. State of Wyoming lifted its position in Xenon Pharmaceuticals by 30.4% during the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 350 shares during the last quarter. Quarry LP boosted its stake in Xenon Pharmaceuticals by 25.0% in the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 500 shares in the last quarter. Finally, Altfest L J & Co. Inc. grew its holdings in Xenon Pharmaceuticals by 6.5% in the fourth quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 501 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.