Insider Selling: Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Sells 16,315 Shares of Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the sale, the chief executive officer now owns 31,302 shares of the company’s stock, valued at approximately $1,267,731. The trade was a 34.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ian Mortimer also recently made the following trade(s):

• On Friday, January 24th, Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $40.00 on Wednesday. Xenon Pharmaceuticals Inc. has a one year low of $35.53 and a one year high of $50.99. The company has a 50-day simple moving average of $40.23 and a two-hundred day simple moving average of $40.82. The firm has a market capitalization of $3.05 billion, a PE ratio of -14.18 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same quarter in the previous year, the business earned ($0.73) earnings per share. Analysts expect that Xenon Pharmaceuticals Inc. will post -3.13 EPS for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P lifted its holdings in Xenon Pharmaceuticals by 7.1% in the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after buying an additional 46,964 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Xenon Pharmaceuticals by 57.1% during the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after purchasing an additional 300,000 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Xenon Pharmaceuticals by 4.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock valued at $17,287,000 after purchasing an additional 17,953 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after purchasing an additional 905,129 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after purchasing an additional 13,903 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on XENE shares. Raymond James restated an “outperform” rating and set a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $56.00.

Xenon Pharmaceuticals Company 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.