Walleye Capital LLC Has $8.70 Million Stock Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Walleye Capital LLC boosted its stake in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 111.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,982 shares of the biopharmaceutical company’s stock after purchasing an additional 117,022 shares during the quarter. Walleye Capital LLC owned 0.29% of Xenon Pharmaceuticals worth $8,702,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Xenon Pharmaceuticals by 13.2% in the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company’s stock worth $11,004,000 after acquiring an additional 32,701 shares during the period. Barclays PLC raised its stake in shares of Xenon Pharmaceuticals by 1,275.5% in 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 in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Xenon Pharmaceuticals by 1,263.2% in 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 in the last quarter. Harbor Capital Advisors Inc. lifted its position in Xenon Pharmaceuticals by 3.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company’s stock worth $1,953,000 after purchasing an additional 1,755 shares during the period. Finally, Elmwood Wealth Management Inc. boosted its stake in Xenon Pharmaceuticals by 44.7% during the fourth quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company’s stock worth $431,000 after buying an additional 3,400 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XENE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price objective for the company. StockNews.com cut shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $33.03 on Wednesday. The stock’s 50 day simple moving average is $35.28 and its 200 day simple moving average is $38.91. Xenon Pharmaceuticals Inc. has a one year low of $26.74 and a one year high of $46.00. The firm has a market cap of $2.53 billion, a PE ratio of -11.71 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the sale, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.52% of the company’s stock.

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.