Xenon Pharmaceuticals Inc. (XENE) Shares Up 9.1% After Insider Buying Activity

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shot up 9.1% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as $2.60 and last traded at $2.40. 521,456 shares were traded during trading, an increase of 457% from the average session volume of 93,559 shares. The stock had previously closed at $2.20.

Specifically, Director Mohammad Azab purchased 15,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average cost of $2.22 per share, with a total value of $33,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.40% of the company’s stock.

A number of brokerages have recently issued reports on XENE. Zacks Investment Research raised shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Jefferies Group LLC set a $5.00 price target on shares of Xenon Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 4th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Scotia Capital Inc. raised its stake in Xenon Pharmaceuticals by 36.0% in the second quarter. Scotia Capital Inc. now owns 35,629 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 9,426 shares in the last quarter. KCG Holdings Inc. purchased a new stake in Xenon Pharmaceuticals in the first quarter valued at approximately $122,000. DAFNA Capital Management LLC raised its stake in Xenon Pharmaceuticals by 11.2% in the second quarter. DAFNA Capital Management LLC now owns 377,695 shares of the biopharmaceutical company’s stock valued at $1,190,000 after purchasing an additional 38,081 shares in the last quarter. K2 Principal Fund L.P. raised its stake in Xenon Pharmaceuticals by 40.6% in the second quarter. K2 Principal Fund L.P. now owns 164,510 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 47,535 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Xenon Pharmaceuticals by 90.1% in the first quarter. Renaissance Technologies LLC now owns 217,090 shares of the biopharmaceutical company’s stock valued at $868,000 after purchasing an additional 102,890 shares in the last quarter. 55.29% of the stock is currently owned by institutional investors and hedge funds.

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Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a Canada-based clinical-stage biopharmaceutical company. It is engaged in discovering and developing a pipeline of differentiated therapeutics for orphan indications. Its product pipeline includes: Glybera, TV-45070, GDC-0310, XEN901 (Nav1.6 inhibitor) and XEN1101. Glybera is used for the treatment of lipoprotein lipase deficiency (LPLD).

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