Traders Buy High Volume of Put Options on Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) saw some unusual options trading activity on Wednesday. Investors bought 4,063 put options on the stock. This represents an increase of 2,362% compared to the typical daily volume of 165 put options.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, insider Christopher John Kenney sold 2,771 shares of Xenon Pharmaceuticals stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total transaction of $166,564.81. Following the sale, the insider owned 4,729 shares in the company, valued at approximately $284,260.19. The trade was a 36.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ian Mortimer sold 270,000 shares of Xenon Pharmaceuticals stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $60.33, for a total value of $16,289,100.00. Following the sale, the chief executive officer owned 6,000 shares in the company, valued at $361,980. This trade represents a 97.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 296,707 shares of company stock worth $17,845,365 over the last three months. Insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of large investors have recently bought and sold shares of XENE. Danske Bank A S purchased a new position in Xenon Pharmaceuticals during the 3rd quarter worth $32,000. Blue Trust Inc. raised its position in Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 717 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Xenon Pharmaceuticals during the 4th quarter worth $33,000. Aster Capital Management DIFC Ltd purchased a new position in Xenon Pharmaceuticals during the 3rd quarter worth $39,000. Finally, Osaic Holdings Inc. raised its position in Xenon Pharmaceuticals by 541.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 1,034 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Up 0.2%

Shares of XENE stock opened at $56.00 on Friday. The stock has a market capitalization of $5.41 billion, a PE ratio of -11.91 and a beta of 0.65. Xenon Pharmaceuticals has a 52-week low of $28.19 and a 52-week high of $63.95. The stock’s 50-day moving average price is $55.84 and its 200 day moving average price is $47.10.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.17). During the same period last year, the firm posted ($0.83) earnings per share. Analysts expect that Xenon Pharmaceuticals will post -4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $69.00 target price on shares of Xenon Pharmaceuticals in a research report on Sunday. Wolfe Research assumed coverage on Xenon Pharmaceuticals in a research report on Monday, February 23rd. They set an “outperform” rating and a $60.00 target price on the stock. Robert W. Baird lifted their target price on Xenon Pharmaceuticals from $63.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. HC Wainwright upped their price target on shares of Xenon Pharmaceuticals from $53.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Xenon Pharmaceuticals from $56.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $77.07.

About Xenon Pharmaceuticals

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.