Rock Springs Capital Management LP Sells 24,768 Shares of Xenon Pharmaceuticals Inc. $XENE

Rock Springs Capital Management LP decreased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,020 shares of the biopharmaceutical company’s stock after selling 24,768 shares during the quarter. Xenon Pharmaceuticals comprises approximately 2.6% of Rock Springs Capital Management LP’s holdings, making the stock its 9th biggest holding. Rock Springs Capital Management LP’s holdings in Xenon Pharmaceuticals were worth $44,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Danske Bank A S acquired a new stake in shares of Xenon Pharmaceuticals during the third quarter worth approximately $32,000. 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 buying an additional 717 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $33,000. Osaic Holdings Inc. increased its position in Xenon Pharmaceuticals by 541.4% in the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 1,034 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Xenon Pharmaceuticals in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Activity

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $70,251.08. Following the transaction, the director directly owned 24,896 shares of the company’s stock, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director owned 1,455 shares of the company’s stock, valued at $77,318.70. The trade was a 44.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.91% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Royal Bank Of Canada boosted their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Needham & Company LLC reduced their price target on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company restated an “overweight” rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of “Buy” and an average price target of $77.20.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $65.78 on Tuesday. The firm’s 50-day moving average is $58.54 and its 200-day moving average is $52.87. The company has a market cap of $6.36 billion, a price-to-earnings ratio of -14.00 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 52-week low of $30.00 and a 52-week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting analysts’ consensus estimates of ($1.17). During the same quarter in the prior year, the company earned ($0.83) EPS. Equities analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current year.

About Xenon Pharmaceuticals

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.