Xenon Pharmaceuticals Inc (NASDAQ:XENE) Sees Large Increase in Short Interest

Xenon Pharmaceuticals Inc (NASDAQ:XENE) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 488,600 shares, a growth of 75.8% from the September 30th total of 277,900 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 48,400 shares, the short-interest ratio is currently 10.1 days.

XENE stock traded down $0.03 during trading on Monday, hitting $9.00. The company had a trading volume of 1,815 shares, compared to its average volume of 75,248. The firm has a market cap of $235.84 million, a PE ratio of -6.77 and a beta of 1.31. Xenon Pharmaceuticals has a 1-year low of $5.41 and a 1-year high of $11.34. The firm has a 50-day moving average price of $8.79 and a 200-day moving average price of $9.34. The company has a quick ratio of 11.07, a current ratio of 11.07 and a debt-to-equity ratio of 0.18.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.16. The company had revenue of $3.50 million during the quarter. Sell-side analysts anticipate that Xenon Pharmaceuticals will post -1.88 earnings per share for the current year.

XENE has been the topic of several recent research reports. Guggenheim initiated coverage on Xenon Pharmaceuticals in a research report on Friday, September 20th. They issued a “buy” rating and a $25.00 price target on the stock. Zacks Investment Research upgraded Xenon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Saturday, October 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $17.67.

In other news, CEO Simon N. Pimstone sold 10,395 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $9.51, for a total value of $98,856.45. Following the completion of the sale, the chief executive officer now directly owns 258,122 shares of the company’s stock, valued at approximately $2,454,740.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank A. Holler sold 5,069 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $9.32, for a total value of $47,243.08. Following the completion of the transaction, the director now owns 136,129 shares in the company, valued at approximately $1,268,722.28. The disclosure for this sale can be found here. Insiders sold a total of 23,087 shares of company stock valued at $216,766 over the last three months. Company insiders own 8.35% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its position in Xenon Pharmaceuticals by 8.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 925,000 shares of the biopharmaceutical company’s stock valued at $9,121,000 after acquiring an additional 75,000 shares during the period. NEA Management Company LLC increased its position in Xenon Pharmaceuticals by 229.8% during the 3rd quarter. NEA Management Company LLC now owns 602,663 shares of the biopharmaceutical company’s stock worth $5,430,000 after purchasing an additional 419,909 shares during the period. Renaissance Technologies LLC increased its position in Xenon Pharmaceuticals by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 475,500 shares of the biopharmaceutical company’s stock worth $4,688,000 after purchasing an additional 3,200 shares during the period. Bank of New York Mellon Corp acquired a new position in Xenon Pharmaceuticals during the 2nd quarter worth approximately $2,244,000. Finally, Altshuler Shaham Ltd increased its position in Xenon Pharmaceuticals by 4.3% during the 2nd quarter. Altshuler Shaham Ltd now owns 149,758 shares of the biopharmaceutical company’s stock worth $1,477,000 after purchasing an additional 6,151 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals, Inc engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P.

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