Ian Mortimer Sells 22,468 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. This represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, January 27th, Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $40.50, for a total value of $660,757.50.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE opened at $40.11 on Tuesday. 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 $40.20 and a 200-day simple moving average of $40.82. The firm has a market capitalization of $3.06 billion, a PE ratio of -14.22 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period last year, the business earned ($0.73) earnings per share. Equities analysts forecast that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds have recently bought and sold shares of XENE. Janus Henderson Group PLC raised its holdings in shares of Xenon Pharmaceuticals by 144.2% during the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock valued at $100,506,000 after buying an additional 1,507,135 shares during the last quarter. JPMorgan Chase & Co. increased its position in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after acquiring an additional 905,129 shares during the period. Vestal Point Capital LP raised its stake in Xenon Pharmaceuticals by 57.1% during the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after acquiring an additional 300,000 shares in the last quarter. Jennison Associates LLC boosted its position in Xenon Pharmaceuticals by 39.0% during the 4th quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock worth $31,421,000 after acquiring an additional 224,892 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Xenon Pharmaceuticals by 74.7% in the second quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company’s stock worth $18,794,000 after purchasing an additional 206,163 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.