300,500 Shares in Xenon Pharmaceuticals Inc. $XENE Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the first quarter, Holdings Channel.com reports. The firm bought 300,500 shares of the biopharmaceutical company’s stock, valued at approximately $17,474,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of Xenon Pharmaceuticals during the third quarter worth $32,000. Blue Trust Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 2,560.7% during the 4th quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 717 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Xenon Pharmaceuticals during the 4th quarter worth $33,000. Osaic Holdings Inc. grew 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 acquiring an additional 1,034 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals during the 4th quarter worth $43,000. Institutional investors own 95.45% of the company’s stock.

Insider Activity at Xenon Pharmaceuticals

In other news, Director Gary Patou sold 1,322 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $70,251.08. Following the transaction, the director owned 24,896 shares in the company, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the sale, the director owned 1,455 shares of the company’s stock, valued at approximately $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on XENE shares. Needham & Company LLC dropped their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. JPMorgan Chase & Co. upped their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $77.20.

Xenon Pharmaceuticals Trading Up 1.7%

Shares of XENE opened at $64.19 on Friday. The company has a market capitalization of $6.21 billion, a PE ratio of -13.66 and a beta of 0.61. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $72.66. The stock’s 50-day moving average price is $59.13 and its two-hundred day moving average price is $53.34.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, meeting analysts’ consensus estimates of ($1.17). During the same period in the prior year, the business posted ($0.83) earnings per share. Equities research analysts predict that Xenon Pharmaceuticals Inc. will post -4.92 EPS for the current fiscal year.

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.