JPMorgan Chase & Co. raised its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) by 1,263.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 976,783 shares of the biopharmaceutical company’s stock after buying an additional 905,129 shares during the quarter. JPMorgan Chase & Co. owned 1.28% of Xenon Pharmaceuticals worth $38,456,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals during the third quarter worth about $102,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Xenon Pharmaceuticals by 21.6% during 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 purchasing an additional 487 shares in the last quarter. Quarry LP grew its position in shares of Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,700 shares during the period. Finally, Vestcor Inc acquired a new stake in Xenon Pharmaceuticals during the 3rd quarter worth approximately $327,000. 95.45% of the stock is owned by institutional investors.
Xenon Pharmaceuticals stock opened at $40.51 on Monday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -14.37 and a beta of 1.20. Xenon Pharmaceuticals Inc. has a one year low of $35.53 and a one year high of $50.99. The firm has a 50-day moving average of $41.16 and a 200-day moving average of $40.58.
In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares in the company, valued at $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. 5.52% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $56.00.
Check Out Our Latest Analysis on XENE
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.
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