Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Shares Sold by Cubist Systematic Strategies LLC

Posted by on Mar 11th, 2023

Cubist Systematic Strategies LLC decreased its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) by 61.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,211 shares of the biopharmaceutical company’s stock after selling 32,467 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Xenon Pharmaceuticals were worth $730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AXA S.A. increased its stake in Xenon Pharmaceuticals by 0.3% during the third quarter. AXA S.A. now owns 191,836 shares of the biopharmaceutical company’s stock worth $6,925,000 after acquiring an additional 485 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Xenon Pharmaceuticals by 4.7% in the second quarter. Legal & General Group Plc now owns 11,273 shares of the biopharmaceutical company’s stock valued at $343,000 after buying an additional 502 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Xenon Pharmaceuticals by 3.7% in the first quarter. Guggenheim Capital LLC now owns 14,193 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 509 shares in the last quarter. Chartwell Investment Partners LLC grew its stake in shares of Xenon Pharmaceuticals by 3.6% in the third quarter. Chartwell Investment Partners LLC now owns 22,289 shares of the biopharmaceutical company’s stock valued at $805,000 after buying an additional 781 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Xenon Pharmaceuticals by 38.6% in the third quarter. UBS Group AG now owns 3,426 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 954 shares in the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $34.18 on Friday. Xenon Pharmaceuticals Inc. has a fifty-two week low of $24.94 and a fifty-two week high of $41.39. The company has a market capitalization of $2.15 billion, a P/E ratio of -16.75 and a beta of 1.37. The stock has a 50-day simple moving average of $37.73 and a 200-day simple moving average of $37.14.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.01. Xenon Pharmaceuticals had a negative return on equity of 17.90% and a negative net margin of 862.06%. Xenon Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.57) EPS. As a group, analysts forecast that Xenon Pharmaceuticals Inc. will post -2.84 earnings per share for the current year.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Simon N. Pimstone sold 19,232 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $36.98, for a total value of $711,199.36. Following the transaction, the director now owns 34,002 shares in the company, valued at approximately $1,257,393.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on XENE shares. Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a research note on Monday, November 28th. They issued an “overweight” rating and a $50.00 price objective for the company. Cowen initiated coverage on Xenon Pharmaceuticals in a report on Monday, December 12th. They issued an “outperform” rating for the company. Royal Bank of Canada lifted their target price on Xenon Pharmaceuticals from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. The Goldman Sachs Group initiated coverage on Xenon Pharmaceuticals in a report on Wednesday, December 14th. They issued a “buy” rating and a $60.00 target price for the company. Finally, Guggenheim decreased their target price on Xenon Pharmaceuticals from $53.00 to $49.00 and set a “buy” rating for the company in a report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.70.

Xenon Pharmaceuticals Company Profile

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Xenon Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It develops therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. The company’s products include XEN496, XEN1101, XEN901 and XEN007. Xenon Pharmaceuticals was founded by Simon Neil Pimstone, Johannes J.

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Institutional Ownership by Quarter for Xenon Pharmaceuticals (NASDAQ:XENE)

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