Insider Selling: PATOU GARY, Xenon Pharmaceuticals Inc. [XENE] Director divested 1,937 shares


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Xenon Pharmaceuticals Inc. shares valued at $67,390 were sold by PATOU GARY on Nov 25. At $34.79 per share, PATOU GARY sold 1,937 shares. The insider’s holdings dropped to 23,573 shares worth approximately $0.95 million following the completion of this transaction.

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Also, PATOU GARY sold 2,057 shares, netting a total of over 70,610 in proceeds. Following the sale of shares at $34.33 each, the insider now holds 23,573 shares.

Before that, AULIN SHERRY had sold 15,355 shares from its account. In a trade valued at $607,597, the Chief Financial Officer traded Xenon Pharmaceuticals Inc. shares for $39.57 each. Upon closing the transaction, the insider’s holdings decreased to 15,355 shares, worth approximately $0.0.

As published in their initiating research note from Goldman on December 14, 2022, Xenon Pharmaceuticals Inc. [XENE] has been a Buy and the price target has been revised to $60. This represents a 32.75% premium over Wednesday’s closing price. Analysts at Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid December. As of November 28, 2022, Wells Fargo has initiated its “an Overweight” rating for XENE. Earlier on October 19, 2022, Raymond James initiated its rating. Their recommendation was “an Outperform” for XENE stock.

Analyzing XENE Stock Performance

On Wednesday, Xenon Pharmaceuticals Inc. [NASDAQ: XENE] rose 2.26% to $40.35. The stock’s lowest price that day was $39.46, but it reached a high of $40.68 in the same session. During the last five days, there has been a surge of approximately 8.79%. Over the course of the year, Xenon Pharmaceuticals Inc. shares have jumped approximately 2.33%. Shares of the company reached a 52-week high of $41.25 on 02/14/23 and a 52-week low of $34.67 on 01/09/23. A 50-day SMA is recorded $38.11, while a 200-day SMA reached $35.42. Nevertheless, trading volume fell to 0.55 million shares from 0.25 million shares the previous day.

Support And Resistance Levels for Xenon Pharmaceuticals Inc. (XENE)

According to the 24-hour chart, there is a support level at 39.65, which, if violated, would cause prices to drop to 38.94. In the upper region, resistance lies at 40.87. The next price resistance is at 41.38. RSI (Relative Strength Index) is 61.18 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.72, which suggests the price will decrease in the coming days. Percent R is at 17.27%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Xenon Pharmaceuticals Inc. subject to short interest?

Stocks of Xenon Pharmaceuticals Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.19 million shares to 3.63 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 3.82 million shares. A decline of -5.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.75 of the overall float, the days-to-cover ratio (short ratio) decline to 8.75.

Which companies own the most shares of Xenon Pharmaceuticals Inc. (XENE)?

According to Avoro Capital Advisor LLC filings, the company currently owns 4,900,000 shares, which is about 7.83% of the total XENE shares outstanding. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $183,341,599. Driehaus Capital Management LLC acquire a 3.95% interest valued at $183.01 million while Polar Capital LLP purchased a 383,152 stake. A total of -444,917 shares of Xenon Pharmaceuticals Inc. were bought by Marshall Wace LLP during the quarter, and -10,200 were sold by Redmile Group LLC. In its current portfolio, Capital Research & Management Co holds 2,274,974 shares valued at $88.93 million.

In terms of Xenon Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $50.92 in the next 12 months, up nearly 26.71% from the previous closing price of $39.46. Analysts anticipate Xenon Pharmaceuticals Inc. stock to reach $60.00 by 2023, with the lowest price target being $46.00. In spite of this, 15 analysts ranked Xenon Pharmaceuticals Inc. stock as a Buy at the end of 2023. On August 29, 2022, BofA Securities assigned a price target of “a Buy” to the stock and initiated coverage with a $45.


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