Insider Selling: Xenon Pharmaceuticals (NASDAQ:XENE) CEO Sells 14,375 Shares of Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 14,375 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $45.03, for a total value of $647,306.25. Following the completion of the transaction, the chief executive officer owned 16,830 shares in the company, valued at approximately $757,854.90. The trade was a 46.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, December 8th, Ian Mortimer sold 10,830 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $45.73, for a total value of $495,255.90.
• On Friday, November 28th, Ian Mortimer sold 97 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $45.01, for a total value of $4,365.97.
• On Wednesday, October 1st, Ian Mortimer sold 25,000 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $40.16, for a total transaction of $1,004,000.00.

Xenon Pharmaceuticals Stock Down 2.3%

XENE traded down $1.01 during trading on Tuesday, hitting $43.52. 514,253 shares of the company’s stock were exchanged, compared to its average volume of 767,655. Xenon Pharmaceuticals Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $46.60. The stock has a market cap of $3.36 billion, a P/E ratio of -11.19 and a beta of 1.03. The business’s 50 day moving average is $41.41 and its two-hundred day moving average is $36.70.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.01. During the same quarter in the prior year, the company earned ($0.81) EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on XENE shares. Royal Bank Of Canada increased their price objective on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Bloom Burton raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Xenon Pharmaceuticals from $57.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $54.27.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in XENE. Farther Finance Advisors LLC bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals in the first quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC bought a new position in Xenon Pharmaceuticals during the second quarter valued at $32,000. Danske Bank A S purchased a new stake in Xenon Pharmaceuticals in the third quarter worth $32,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Xenon Pharmaceuticals in the third quarter worth $39,000. Institutional investors own 95.45% of the company’s stock.

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.