Trails Edge Capital Partners LP Acquires Shares of 440,000 Xenon Pharmaceuticals Inc. $XENE

Trails Edge Capital Partners LP bought a new position in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) during the second quarter, HoldingsChannel reports. The firm bought 440,000 shares of the biopharmaceutical company’s stock, valued at approximately $26,558,400,000. Xenon Pharmaceuticals makes up about 4.2% of Trails Edge Capital Partners LP’s holdings, making the stock its 8th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. Cinctive Capital Management LP raised its position in shares of Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock valued at $1,045,000 after acquiring an additional 263 shares in the last quarter. State of Wyoming increased its stake in Xenon Pharmaceuticals by 30.4% during the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 350 shares during the last quarter. Quarry LP raised its holdings in shares of Xenon Pharmaceuticals by 25.0% during the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 500 shares during the period. Royal Bank of Canada lifted its position in shares of Xenon Pharmaceuticals by 0.7% in the 1st quarter. Royal Bank of Canada now owns 90,387 shares of the biopharmaceutical company’s stock worth $5,255,000 after buying an additional 630 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Xenon Pharmaceuticals by 11.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,574 shares of the biopharmaceutical company’s stock worth $295,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, Director Gillian Cannon sold 1,190 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the completion of the sale, the director directly owned 1,455 shares of the company’s stock, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary Patou sold 1,322 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $70,251.08. Following the transaction, the director owned 24,896 shares in the company, valued at $1,322,973.44. This represents a 5.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,512 shares of company stock valued at $774,088. Company insiders own 2.91% of the company’s stock.

Xenon Pharmaceuticals Stock Down 0.2%

XENE stock opened at $60.42 on Wednesday. The stock has a market cap of $5.84 billion, a PE ratio of -12.75 and a beta of 0.62. The firm’s 50-day simple moving average is $62.65 and its 200 day simple moving average is $56.05. Xenon Pharmaceuticals Inc. has a fifty-two week low of $35.60 and a fifty-two week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same quarter last year, the business posted ($1.07) earnings per share. Equities analysts forecast that Xenon Pharmaceuticals Inc. will post -4.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

XENE has been the subject of a number of recent research reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $69.00 price objective on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. Needham & Company LLC lowered their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 8th. Royal Bank Of Canada dropped their price target on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, HC Wainwright restated a “buy” rating and set a $74.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.13.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.