Xenon Pharmaceuticals Inc. $XENE is Rock Springs Capital Management LP’s 9th Largest Position

Rock Springs Capital Management LP trimmed its position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,020 shares of the biopharmaceutical company’s stock after selling 24,768 shares during the quarter. Xenon Pharmaceuticals comprises approximately 2.6% of Rock Springs Capital Management LP’s holdings, making the stock its 9th biggest position. Rock Springs Capital Management LP owned about 0.79% of Xenon Pharmaceuticals worth $44,370,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in XENE. Peregrine Capital Management LLC purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at approximately $7,837,000. Jennison Associates LLC boosted its stake in shares of Xenon Pharmaceuticals by 13.8% during the 4th quarter. Jennison Associates LLC now owns 1,292,055 shares of the biopharmaceutical company’s stock worth $57,910,000 after purchasing an additional 156,820 shares during the period. NEXTBio Capital Management LP purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $8,234,000. Siren L.L.C. grew its position in Xenon Pharmaceuticals by 62.2% in the 1st quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company’s stock valued at $76,674,000 after acquiring an additional 505,803 shares during the last quarter. Finally, Nicholas Investment Partners LP increased its stake in Xenon Pharmaceuticals by 104.0% in the 4th quarter. Nicholas Investment Partners LP now owns 242,989 shares of the biopharmaceutical company’s stock worth $10,891,000 after buying an additional 123,891 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 1,322 shares of the business’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 of the company’s stock, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director directly 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 disclosure for this sale is available in the SEC filing. 2.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC lowered their price objective 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. Wells Fargo & Company reiterated an “overweight” rating and issued a $69.00 price target on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their target price on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada increased their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Two equities 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 stock. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $77.20.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $65.78 on Tuesday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -14.00 and a beta of 0.61. The business has a 50-day moving average of $58.54 and a 200 day moving average of $52.87. Xenon Pharmaceuticals Inc. has a 12 month low of $30.00 and a 12 month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting the consensus estimate of ($1.17). During the same period last year, the firm earned ($0.83) EPS. Equities research analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current 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.