Stock traders are buying a high volume of put options on Xenon Pharmaceuticals (NASDAQ:XENE)


Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) was the recipient of some unusual options trades on Wednesday. Stock traders bought 4,063 put options on the stock. This is an increase of approximately 2,362% over the typical daily volume of 165 put options.

In other news, Director Simon N. Pimstone sold 9,325 shares of the company in a trade that took place on Friday, March 4. The stock was sold at an average price of $30.61, for a total transaction of $285,438.25. The transaction was disclosed in a filing with the SEC, accessible via this link. Additionally, Executive Vice President Sherrington Robin sold 21,710 shares of the company in a trade on Friday, March 4. The shares were sold at an average price of $30.50, for a total value of $662,155.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 94,974 shares of the company worth $2,899,047. Company insiders own 7.48% of the company’s shares.

Several institutional investors have recently changed their stake in the company. Suvretta Capital Management LLC raised its position in Xenon Pharmaceuticals shares by 95.1% in the third quarter. Suvretta Capital Management LLC now owns 1,158,961 shares of the biopharmaceutical company worth $17,709,000 after purchasing an additional 564,850 shares during the period. Altium Capital Management LP increased its stake in shares of Xenon Pharmaceuticals by 39.4% during the third quarter. Altium Capital Management LP now owns 216,000 shares of the biopharmaceutical company valued at $3,300,000 after acquiring an additional 61,000 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 24.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 120,121 shares of the biopharmaceutical company valued at $1,836,000 after acquiring 23,521 additional shares last quarter. Point72 Asset Management LP increased its stake in shares of Xenon Pharmaceuticals by 19.5% during the third quarter. Point72 Asset Management LP now owns 1,077,800 shares of the biopharmaceutical company valued at $16,469,000 after acquiring an additional 175,500 shares last quarter. Finally, Brown Advisory Inc. acquired a new equity stake in Xenon Pharmaceuticals during the fourth quarter valued at approximately $403,000. 69.15% of the shares are currently held by institutional investors.

A number of equity research analysts have commented on XENE shares. StockNews.com launched coverage on Xenon Pharmaceuticals in a research note on Thursday, March 31. They issued a “sell” rating for the company. William Blair reaffirmed an “outperform” rating on Xenon Pharmaceuticals shares in a Wednesday, March 2 report. TheStreet upgraded Xenon Pharmaceuticals from a “d+” rating to a “c” rating in a Monday, March 14 report. Finally, Wedbush reissued an “outperform” rating on Xenon Pharmaceuticals shares in a Wednesday, March 2 report. Two investment analysts gave the stock a sell rating and six gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $44.00.

XENE opened at $33.83 on Thursday. The company has a 50-day moving average price of $31.48 and a two-hundred-day moving average price of $29.86. The company has a market capitalization of $1.76 billion, a PE ratio of -18.19 and a beta of 1.79. Xenon Pharmaceuticals has a 52-week low of $14.65 and a 52-week high of $36.42.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last released its quarterly results on Tuesday, March 1. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, missing analyst consensus estimates of ($0.47) by ($0.10). The company posted revenue of $3.74 million in the quarter, versus analyst estimates of $4.20 million. Xenon Pharmaceuticals had a negative return on equity of 24.14% and a negative net margin of 425.88%. During the same quarter of the previous year, the company achieved EPS of ($0.34). Analysts predict that Xenon Pharmaceuticals will post earnings per share of -2.17 for the current fiscal year.

Xenon Pharmaceuticals Company Profile (Get an assessment)

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, is engaged in the development of therapeutic products to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener which is a Phase III clinical trial for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in a phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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