Xenon Pharmaceuticals Inc (NASDAQ: XENE) stock jumped 2.58% on Friday to $29.44 against a previous-day closing price of $28.70. With 0.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.46 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $29.67 whereas the lowest price it dropped to was $28.48. The 52-week range on XENE shows that it touched its highest point at $43.75 and its lowest point at $27.99 during that stretch. It currently has a 1-year price target of $51.54. Beta for the stock currently stands at 1.25.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of XENE was up-trending over the past week, with a rise of 2.12%, but this was down by -15.77% over a month. Three-month performance dropped to -22.67% while six-month performance fell -28.23%. The stock lost -10.95% in the past year, while it has lost -25.34% so far this year. A look at the trailing 12-month EPS for XENE yields -2.66 with Next year EPS estimates of -3.40. For the next quarter, that number is -0.79. This implies an EPS growth rate of -40.06% for this year and -17.90% for next year.
Float and Shares Shorts:
At present, 65.43 million XENE shares are outstanding with a float of 63.23 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.76 million, which was 2.71% higher than short shares on Sep 28, 2023. In addition to Ms. Sherry Aulin as the firm’s Chief Financial Officer, Ms. Andrea DiFabio J.D. serves as its Chief Legal Officer & Corporate Secretary.
Institutional Ownership:
Through their ownership of 94.60% of XENE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.11% of XENE, in contrast to 54.01% held by mutual funds. Shares owned by individuals account for 39.76%. As the largest shareholder in XENE with 7.64% of the stake, Avoro Capital Advisor LLC holds 4,900,000 shares worth 4,900,000. A second-largest stockholder of XENE, Driehaus Capital Management LLC, holds 4,513,005 shares, controlling over 7.04% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in XENE, holding 4,252,541 shares or 6.63% stake. With a 7.36% stake in XENE, the American Funds Small Cap World Fu is the largest stakeholder. A total of 4,721,264 shares are owned by the mutual fund manager. The Polar Capital Funds Plc – Biotech, which owns about 2.73% of XENE stock, is the second-largest Mutual Fund holder. It holds 1,750,000 shares valued at 54.25 million. Pictet – Biotech holds 1.71% of the stake in XENE, owning 1,095,165 shares worth 33.95 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for XENE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With XENE analysts setting a high price target of $60.00 and a low target of $46.00, the average target price over the next 12 months is $51.54. Based on these targets, XENE could surge 103.8% to reach the target high and rise by 56.25% to reach the target low. Reaching the average price target will result in a growth of 75.07% from current levels.
Summary of Insider Activity:
Insiders traded XENE stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 50,000 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 52 over the past year. The total number of shares bought during that period was 561,304 while 560,042 shares were sold.
