Cinctive Capital Management LP Buys Shares of 23,054 Xenon Pharmaceuticals Inc. $XENE

Cinctive Capital Management LP bought a new position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 23,054 shares of the biopharmaceutical company’s stock, valued at approximately $926,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Holocene Advisors LP bought a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $56,637,000. Wellington Management Group LLP grew its holdings in Xenon Pharmaceuticals by 66.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after acquiring an additional 1,435,096 shares in the last quarter. Geode Capital Management LLC increased its position in Xenon Pharmaceuticals by 1,294.2% during the 2nd quarter. Geode Capital Management LLC now owns 970,343 shares of the biopharmaceutical company’s stock valued at $30,369,000 after purchasing an additional 900,746 shares during the period. Braidwell LP raised its holdings in shares of Xenon Pharmaceuticals by 33.0% in the 2nd quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company’s stock valued at $112,837,000 after purchasing an additional 895,154 shares in the last quarter. Finally, Commodore Capital LP raised its holdings in shares of Xenon Pharmaceuticals by 30.1% in the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock valued at $94,682,000 after purchasing an additional 700,000 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Down 1.0%

Shares of Xenon Pharmaceuticals stock opened at $54.66 on Tuesday. The firm’s 50 day moving average price is $43.97 and its 200-day moving average price is $42.07. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $63.95. The company has a market cap of $4.55 billion, a P/E ratio of -12.54 and a beta of 0.91.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same period in the previous year, the company posted ($0.84) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current fiscal year.

Analysts Set New Price Targets

XENE has been the topic of a number of recent research reports. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Wolfe Research started coverage on shares of Xenon Pharmaceuticals in a research note on Monday, February 23rd. They issued an “outperform” rating and a $60.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft increased their target price on Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group set a $100.00 price target on Xenon Pharmaceuticals in a research report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $71.88.

Insiders Place Their Bets

In other news, insider Andrea Difabio sold 2,607 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total transaction of $156,706.77. Following the transaction, the insider directly owned 4,893 shares of the company’s stock, valued at approximately $294,118.23. This represents a 34.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher John Kenney sold 2,771 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $60.11, for a total value of $166,564.81. Following the sale, the insider owned 4,729 shares of the company’s stock, valued at approximately $284,260.19. This represents a 36.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 336,707 shares of company stock valued at $19,622,565. 4.07% of the stock is currently owned by insiders.

Xenon Pharmaceuticals Company Profile

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.