Victory Capital Management Inc. Has $250,000 Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Posted by Defense World Staff on Nov 5th, 2023

Victory Capital Management Inc. reduced its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Free Report) by 76.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,500 shares of the biopharmaceutical company’s stock after selling 21,690 shares during the period. Victory Capital Management Inc.’s holdings in Xenon Pharmaceuticals were worth $250,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Xenon Pharmaceuticals by 124.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 623 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Xenon Pharmaceuticals by 1,567.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 1,254 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Xenon Pharmaceuticals by 1,004.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,955 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 1,778 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $66,000. Finally, Dark Forest Capital Management LP bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $88,000. 95.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XENE has been the subject of a number of recent research reports. StockNews.com assumed coverage on Xenon Pharmaceuticals in a report on Thursday, October 5th. They set a “sell” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, August 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $51.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, September 22nd. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, August 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $52.44.

Check Out Our Latest Stock Report on Xenon Pharmaceuticals

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, Director Dawn Svoronos sold 25,000 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $38.70, for a total transaction of $967,500.00. Following the sale, the director now owns 25,000 shares in the company, valued at $967,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.43% of the company’s stock.

Xenon Pharmaceuticals Trading Down 0.6 %

Xenon Pharmaceuticals stock opened at $32.88 on Friday. Xenon Pharmaceuticals Inc. has a 12 month low of $30.07 and a 12 month high of $43.75. The business’s 50 day simple moving average is $35.44 and its 200 day simple moving average is $37.95. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -13.20 and a beta of 1.31.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.03). The company’s revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.55) earnings per share. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -2.89 earnings per share for the current fiscal year.

Xenon Pharmaceuticals Company Profile

(Free Report)

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.