Ian Mortimer Sells 16,315 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,267,731. This trade represents a 34.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ian Mortimer also recently made the following trade(s):

• On Friday, January 24th, Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $40.00 on Wednesday. The stock has a market cap of $3.05 billion, a P/E ratio of -14.18 and a beta of 1.20. Xenon Pharmaceuticals Inc. has a fifty-two week low of $35.53 and a fifty-two week high of $50.99. The firm’s fifty day moving average price is $40.23 and its 200-day moving average price is $40.82.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the firm posted ($0.73) earnings per share. Sell-side analysts predict that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XENE. Janus Henderson Group PLC grew its position in Xenon Pharmaceuticals by 144.2% in the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after acquiring an additional 1,507,135 shares in the last quarter. JPMorgan Chase & Co. grew its position in Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after acquiring an additional 905,129 shares in the last quarter. Vestal Point Capital LP grew its position in Xenon Pharmaceuticals by 57.1% in the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after acquiring an additional 300,000 shares in the last quarter. Jennison Associates LLC grew its position in Xenon Pharmaceuticals by 39.0% in the fourth quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock worth $31,421,000 after acquiring an additional 224,892 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Xenon Pharmaceuticals by 74.7% in the second quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company’s stock worth $18,794,000 after acquiring an additional 206,163 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on XENE shares. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Raymond James reissued an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Finally, HC Wainwright reissued a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and an average price target of $56.00.

Xenon Pharmaceuticals Company Profile

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.