Pictet Asset Management Holding SA Acquires 280,349 Shares of Xenon Pharmaceuticals Inc. $XENE

Pictet Asset Management Holding SA boosted its holdings in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,468,072 shares of the biopharmaceutical company’s stock after acquiring an additional 280,349 shares during the quarter. Pictet Asset Management Holding SA owned 1.52% of Xenon Pharmaceuticals worth $54,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Xenon Pharmaceuticals by 60.2% during the third quarter. GAMMA Investing LLC now owns 830 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 312 shares during the period. Corient Private Wealth LP boosted its holdings in Xenon Pharmaceuticals by 1.5% during the second quarter. Corient Private Wealth LP now owns 28,732 shares of the biopharmaceutical company’s stock valued at $1,734,000 after purchasing an additional 430 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Xenon Pharmaceuticals by 25.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,297 shares of the biopharmaceutical company’s stock valued at $85,000 after purchasing an additional 467 shares during the period. Arizona State Retirement System grew its stake in shares of Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 22,382 shares of the biopharmaceutical company’s stock valued at $1,351,000 after purchasing an additional 513 shares during the period. Finally, Covestor Ltd grew its stake in shares of Xenon Pharmaceuticals by 418.5% in the 3rd quarter. Covestor Ltd now owns 674 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 544 shares during the period. Institutional investors own 95.45% of the company’s stock.

Wall Street Analyst Weigh In

XENE has been the subject of several analyst reports. Wedbush cut their target price on Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, September 28th. Royal Bank Of Canada lowered their price target on Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, September 18th. Deutsche Bank Aktiengesellschaft lowered Xenon Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $90.00 to $46.00 in a research note on Friday, September 18th. Finally, Wells Fargo & Company cut their price objective on Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.31.

Xenon Pharmaceuticals Trading Up 3.3%

Shares of NASDAQ XENE opened at $40.45 on Tuesday. The firm’s 50-day simple moving average is $42.64 and its 200 day simple moving average is $52.14. Xenon Pharmaceuticals Inc. has a 12-month low of $33.38 and a 12-month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.02. Research analysts expect that Xenon Pharmaceuticals Inc. will post -4.66 EPS for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer bought 30,000 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, September 30th. The shares were bought at an average cost of $37.38 per share, for a total transaction of $1,121,400.00. Following the completion of the transaction, the chief executive officer owned 49,923 shares of the company’s stock, valued at approximately $1,866,121.74. This trade represents a 150.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher Kenney sold 7,068 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $60.25, for a total transaction of $425,847.00. Following the sale, the insider directly owned 2 shares in the company, valued at $120.50. This trade represents a 99.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.91% of the stock is owned by company insiders.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for neurological disorders. The company’s research emphasizes ion channels, proteins that help regulate the electrical activity of nerve cells.

Its lead program is azetukalner, formerly known as XEN1101, an oral Kv7 potassium-channel opener being developed for seizure disorders, including focal epilepsy. Xenon is also advancing other drug candidates aimed at neurological conditions.

Founded in 1996, Xenon is headquartered in Burnaby, British Columbia, and conducts drug development activities in North America.