Pictet Asset Management Holding SA Sells 636,594 Shares of Xenon Pharmaceuticals Inc. $XENE

Pictet Asset Management Holding SA lowered its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 50.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 625,985 shares of the biopharmaceutical company’s stock after selling 636,594 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Xenon Pharmaceuticals were worth $28,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in XENE. Arizona State Retirement System increased its holdings in Xenon Pharmaceuticals by 1.8% during the third quarter. Arizona State Retirement System now owns 19,290 shares of the biopharmaceutical company’s stock valued at $774,000 after buying an additional 334 shares during the last quarter. Quarry LP boosted its stake in shares of Xenon Pharmaceuticals by 25.0% during the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 500 shares during the last quarter. Altfest L J & Co. Inc. boosted its stake in shares of Xenon Pharmaceuticals by 6.5% during the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after acquiring an additional 501 shares during the last quarter. State of Wyoming grew its position in shares of Xenon Pharmaceuticals by 112.8% during the 3rd quarter. State of Wyoming now owns 1,151 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 610 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 717 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Activity

In related news, CEO Ian Mortimer sold 270,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $60.33, for a total transaction of $16,289,100.00. Following the sale, the chief executive officer owned 6,000 shares of the company’s stock, valued at approximately $361,980. This trade represents a 97.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrea Difabio sold 2,607 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total value of $156,706.77. Following the completion of the transaction, the insider directly owned 4,893 shares in the company, valued at approximately $294,118.23. This represents a 34.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 296,707 shares of company stock worth $17,845,365 over the last ninety days. Corporate insiders own 4.07% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $56.04 on Friday. Xenon Pharmaceuticals Inc. has a one year low of $28.19 and a one year high of $63.95. The company’s fifty day moving average price is $53.79 and its 200-day moving average price is $46.20. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -12.85 and a beta of 0.74.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same period in the prior year, the company earned ($0.84) EPS. Equities research analysts expect that Xenon Pharmaceuticals Inc. will post -4.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Wednesday, April 8th. JPMorgan Chase & Co. boosted their price target on Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Wolfe Research started coverage on Xenon Pharmaceuticals in a research note on Monday, February 23rd. They issued an “outperform” rating and a $60.00 price objective on the stock. Wedbush lowered their price objective on Xenon Pharmaceuticals from $64.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, March 16th. Finally, Wells Fargo & Company boosted their price objective on Xenon Pharmaceuticals from $49.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $73.13.

Xenon Pharmaceuticals 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.