Squarepoint Ops LLC Invests $6.81 Million in Xenon Pharmaceuticals Inc. $XENE

Squarepoint Ops LLC purchased a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the 2nd quarter, HoldingsChannel reports. The firm purchased 112,869 shares of the biopharmaceutical company’s stock, valued at approximately $6,813,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XENE. Danske Bank A S acquired a new stake in Xenon Pharmaceuticals in the third quarter worth $32,000. Kestra Advisory Services LLC acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at $33,000. Osaic Holdings Inc. grew its position in shares of Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 1,034 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth about $43,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Xenon Pharmaceuticals by 450.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 0.3%

Xenon Pharmaceuticals stock opened at $58.80 on Friday. Xenon Pharmaceuticals Inc. has a 52 week low of $35.60 and a 52 week high of $72.66. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of -12.41 and a beta of 0.61. The company’s 50-day moving average price is $63.47 and its two-hundred day moving average price is $57.60.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter last year, the business earned ($1.07) earnings per share. Research analysts expect that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Royal Bank Of Canada cut their price target on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Wall Street Zen upgraded Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $74.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $77.13.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, insider Christopher Kenney sold 7,068 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the sale, the insider directly owned 2 shares in the company, valued at $120.50. This represents a 99.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Gannon sold 10,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the transaction, the director directly owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. The trade was a 84.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.91% of the stock is owned by insiders.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc (NASDAQ:XENE) is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its expertise in ion channels, which regulate the electrical activity of nerve cells, to discover and advance potential treatments for conditions with significant unmet medical needs.

Xenon’s leading investigational product is azetukalner (XEN1101), an oral, small-molecule potassium-channel opener being studied in epilepsy, including focal-onset seizures, and major depressive disorder.