NEA Management Company LLC grew its position in shares of Xenon Pharmaceuticals Inc (NASDAQ:XENE) by 229.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602,663 shares of the biopharmaceutical company’s stock after buying an additional 419,909 shares during the period. NEA Management Company LLC owned 2.34% of Xenon Pharmaceuticals worth $5,430,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley lifted its position in shares of Xenon Pharmaceuticals by 25.3% during the 2nd quarter. Morgan Stanley now owns 6,148 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 1,241 shares during the last quarter. Athanor Capital LP purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $100,000. A.R.T. Advisors LLC purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $106,000. Invesco Ltd. purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $137,000. Finally, Falcon Point Capital LLC purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $252,000. 68.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:XENE traded up $0.25 on Friday, hitting $8.40. The company’s stock had a trading volume of 2,669 shares, compared to its average volume of 57,020. The company has a 50-day simple moving average of $9.11 and a 200 day simple moving average of $9.48. Xenon Pharmaceuticals Inc has a 1 year low of $5.41 and a 1 year high of $11.40. The company has a market capitalization of $210.84 million, a PE ratio of -6.30 and a beta of 1.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 11.07 and a quick ratio of 11.07.
XENE has been the topic of several recent analyst reports. Guggenheim initiated coverage on Xenon Pharmaceuticals in a report on Friday, September 20th. They issued a “buy” rating and a $25.00 price target on the stock. Zacks Investment Research raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Xenon Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $18.00.
In other news, Director Frank A. Holler sold 5,069 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $9.32, for a total transaction of $47,243.08. Following the transaction, the director now directly owns 136,129 shares in the company, valued at approximately $1,268,722.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Simon N. Pimstone sold 10,395 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $9.51, for a total value of $98,856.45. Following the transaction, the chief executive officer now owns 258,122 shares in the company, valued at $2,454,740.22. The disclosure for this sale can be found here. Insiders have sold a total of 23,087 shares of company stock worth $216,766 over the last quarter. Corporate insiders own 8.35% of the company’s stock.
Xenon Pharmaceuticals Profile
Xenon Pharmaceuticals, Inc engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P.
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