Insider Selling: Xenon Pharmaceuticals (NASDAQ:XENE) CEO Sells $403,620.84 in Stock

16 Mar 2026, 08:37 by Mitch Edgeman · The Markets Daily

Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Free Report) CEO Ian Mortimer sold 7,308 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $55.23, for a total transaction of $403,620.84. Following the completion of the sale, the chief executive officer directly owned 19,923 shares in the company, valued at $1,100,347.29. This trade represents a 26.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ian Mortimer also recently made the following trade(s):

On Tuesday, March 10th, Ian Mortimer sold 11,269 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $60.11, for a total value of $677,379.59.
On Monday, March 9th, Ian Mortimer sold 270,000 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $60.33, for a total value of $16,289,100.00.
On Friday, January 2nd, Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $44.43, for a total value of $1,777,200.00.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $55.23 on Monday. Xenon Pharmaceuticals Inc. has a 52-week low of $26.74 and a 52-week high of $63.95. The firm has a market capitalization of $4.59 billion, a P/E ratio of -12.67 and a beta of 0.91. The stock has a 50 day moving average price of $43.71 and a 200 day moving average price of $41.96.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same quarter in the prior year, the firm posted ($0.84) earnings per share. As a group, sell-side analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Key Xenon Pharmaceuticals News

Here are the key news stories impacting Xenon Pharmaceuticals this week:

Positive Sentiment: Phase‑3 progress — Xenon completed the X‑TOLE2 Phase 3 study, placing XEN1101 (azetukalner) in focus for epilepsy investors and supporting a planned NDA timeline; this derisks the lead program and underpins longer‑term commercial value. Read More.
Positive Sentiment: Big institutional interest — Reports note major funds increasing exposure (including a ~$200M position cited by The Motley Fool), which can add buying pressure into the stock on further positive catalysts. Read More.
Positive Sentiment: Balance‑sheet boost — Xenon closed an upsized public offering that raised approximately $747.5M of gross proceeds, extending runway for Phase 3/commercial preparations and reducing near‑term financing risk. Read More.
Positive Sentiment: Analyst upgrades — Several brokers raised price targets and reiterated Buy/Overweight ratings (Deutsche Bank, HC Wainwright, Wells Fargo and others), which can support short‑term demand. Read More.
Neutral Sentiment: Model adjustments — HC Wainwright revised multi‑year EPS forecasts (improving FY2028–FY2030 assumptions but nudging FY2027), reflecting evolving commercialization timing; useful for context but subject to change. Read More.
Neutral Sentiment: Volume and momentum — The stock has seen elevated trading volume following the analyst activity and trial news, which can amplify intraday moves in either direction. Read More.
Negative Sentiment: Insider selling — CEO Ian Mortimer and several other insiders disclosed large open‑market sales (hundreds of thousands of shares by the CEO), reducing insider ownership and raising optics concerns for some investors. Read More.
Negative Sentiment: Dilution risk — The sizable share issuance (and initial underwriter option) that funded the ~$747.5M raise increases outstanding shares and can pressure near‑term per‑share metrics despite improving cash runway. Read More.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC bought a new position in Xenon Pharmaceuticals during the 4th quarter worth about $1,125,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $55,000. Mackenzie Financial Corp bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $210,000. ADAR1 Capital Management LLC lifted its position in shares of Xenon Pharmaceuticals by 7.9% in the 4th quarter. ADAR1 Capital Management LLC now owns 203,969 shares of the biopharmaceutical company’s stock worth $9,142,000 after purchasing an additional 14,871 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $964,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price target on shares of Xenon Pharmaceuticals from $63.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Wells Fargo & Company boosted their price objective on shares of Xenon Pharmaceuticals from $49.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Stifel Nicolaus set a $66.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $71.94.

Read Our Latest Report on XENE

About Xenon Pharmaceuticals

(Get Free Report)

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.