Pictet Asset Management Holding SA Reduces Position in Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Pictet Asset Management Holding SA trimmed its stake in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,496,511 shares of the biopharmaceutical company’s stock after selling 32,303 shares during the period. Pictet Asset Management Holding SA owned 1.96% of Xenon Pharmaceuticals worth $58,663,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. NEOS Investment Management LLC bought a new stake in Xenon Pharmaceuticals during the 4th quarter worth approximately $240,000. BIT Capital GmbH purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $2,114,000. JPMorgan Chase & Co. raised its position in shares of Xenon Pharmaceuticals by 38.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company’s stock valued at $53,190,000 after purchasing an additional 380,112 shares during the period. Prudential Financial Inc. lifted its stake in shares of Xenon Pharmaceuticals by 177.7% during the 4th quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company’s stock valued at $1,529,000 after buying an additional 24,956 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Xenon Pharmaceuticals in the 4th quarter worth $502,000. 95.45% of the stock is owned by institutional investors.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.52% of the stock is currently owned by insiders.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $34.26 on Friday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of -12.15 and a beta of 1.26. The business has a 50 day simple moving average of $37.72 and a 200-day simple moving average of $39.73. Xenon Pharmaceuticals Inc. has a 1 year low of $33.27 and a 1 year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, analysts expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. StockNews.com raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $57.38.

About Xenon Pharmaceuticals

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.