Corient Private Wealth LP Invests $1.73 Million in Xenon Pharmaceuticals Inc. $XENE

Corient Private Wealth LP purchased a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,732 shares of the biopharmaceutical company’s stock, valued at approximately $1,734,000.

A number of other hedge funds have also modified their holdings of XENE. Artia Global Partners LP bought a new position in Xenon Pharmaceuticals during the 2nd quarter worth approximately $3,923,000. Bamco Inc. NY bought a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $1,509,000. Bank of America Corp DE bought a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $24,389,000. Man Group plc bought a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $18,749,000. Finally, Trails Edge Capital Partners LP acquired a new stake in Xenon Pharmaceuticals in the second quarter worth $26,558,400. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $60.40 on Friday. The company has a market capitalization of $5.84 billion, a P/E ratio of -12.74 and a beta of 0.61. The company’s 50 day moving average price is $63.56 and its two-hundred day moving average price is $56.99. Xenon Pharmaceuticals Inc. has a 52 week low of $35.60 and a 52 week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same quarter last year, the firm posted ($1.07) earnings per share. Analysts forecast that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on XENE. Needham & Company LLC reduced their price target on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. JPMorgan Chase & Co. raised their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $77.13.

Insiders Place Their Bets

In related news, Director Steven Gannon sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the completion of the transaction, the director directly owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. This represents a 84.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Kenney sold 7,068 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the transaction, the insider owned 2 shares of the company’s stock, valued at approximately $120.50. This trade represents a 99.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.91% of the company’s stock.

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.