Braidwell LP Sells 207,000 Shares of Xenon Pharmaceuticals Inc. $XENE

Braidwell LP lessened its position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 15.5% in the second quarter, Holdings Channel.com reports. The fund owned 1,131,452 shares of the biopharmaceutical company’s stock after selling 207,000 shares during the quarter. Xenon Pharmaceuticals comprises approximately 2.5% of Braidwell LP’s holdings, making the stock its 10th largest position. Braidwell LP’s holdings in Xenon Pharmaceuticals were worth $68,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of Xenon Pharmaceuticals by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after buying an additional 32,486 shares during the period. Jump Financial LLC purchased a new position in Xenon Pharmaceuticals in the second quarter valued at about $532,000. Sei Investments Co. bought a new position in Xenon Pharmaceuticals during the 2nd quarter valued at $711,000. The Manufacturers Life Insurance Company bought a new position in Xenon Pharmaceuticals during the 2nd quarter valued at $816,000. Finally, Alliancebernstein L.P. raised its stake in Xenon Pharmaceuticals by 14.2% during the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company’s stock valued at $47,530,000 after buying an additional 189,141 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gary Patou sold 1,322 shares of the firm’s stock in a transaction 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 directly owned 24,896 shares in the company, valued at approximately $1,322,973.44. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total transaction of $640,600.00. Following the completion of the transaction, the director owned 1,870 shares in the company, valued at $119,792.20. This trade represents a 84.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,580 shares of company stock valued at $1,199,935 in the last quarter. 2.91% of the stock is currently owned by corporate insiders.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $60.16 on Thursday. Xenon Pharmaceuticals Inc. has a one year low of $35.60 and a one year high of $72.66. The business’s 50-day moving average price is $63.49 and its two-hundred day moving average price is $56.86. The company has a market capitalization of $5.82 billion, a P/E ratio of -12.69 and a beta of 0.61.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same period last year, the business earned ($1.07) EPS. On average, equities analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on XENE. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Wall Street Zen upgraded Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 price objective on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Finally, Needham & Company LLC cut their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two 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 stock has an average rating of “Buy” and an average price target of $77.13.

Xenon Pharmaceuticals Profile

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.