Bank of New York Mellon Corp Has $1.83 Million Stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Bank of New York Mellon Corp decreased its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,597 shares of the biopharmaceutical company’s stock after selling 2,294 shares during the quarter. Bank of New York Mellon Corp’s holdings in Xenon Pharmaceuticals were worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in XENE. TimesSquare Capital Management LLC grew its position in Xenon Pharmaceuticals by 9.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 848,850 shares of the biopharmaceutical company’s stock worth $33,275,000 after buying an additional 70,557 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Xenon Pharmaceuticals by 22.0% in the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 1,100 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Xenon Pharmaceuticals by 11.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,033 shares of the biopharmaceutical company’s stock valued at $2,118,000 after acquiring an additional 5,460 shares during the last quarter. abrdn plc lifted its stake in shares of Xenon Pharmaceuticals by 14.3% in the 4th quarter. abrdn plc now owns 283,899 shares of the biopharmaceutical company’s stock valued at $11,129,000 after acquiring an additional 35,588 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Xenon Pharmaceuticals by 39.0% during the 4th quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock worth $31,421,000 after purchasing an additional 224,892 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,267,731. This trade represents a 34.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.52% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $35.34 on Friday. The stock has a 50-day moving average of $38.14 and a 200-day moving average of $39.88. The company has a market cap of $2.71 billion, a PE ratio of -12.53 and a beta of 1.26. Xenon Pharmaceuticals Inc. has a one year low of $33.27 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. Analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Profile

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.