Avoro Capital Advisors 13F: Adds $21M to XENE Stake

Avoro Capital Advisors has increased its stake in Xenon Pharmaceuticals Inc. (NasdaqGM: XENE) by 353,333 shares, according to its latest 13F filing with the SEC. This move brings Avoro's total holdings to 5,777,777 shares, valued at approximately $301 million as of the reporting period.

What Changed in Avoro Capital Advisors' Xenon Pharmaceuticals Position

Avoro Capital Advisors boosted its position in Xenon Pharmaceuticals by 353,333 shares, moving from 5,424,444 shares to 5,777,777 shares. This increase represents a 6.5% change in their holdings, reflecting a strong commitment to the biotechnology company.

Other Institutional Activity in Xenon Pharmaceuticals

Several other institutional investors also made notable changes to their Xenon Pharmaceuticals positions. FMR LLC added 1,898,241 shares, ending with 10,818,491 shares valued at approximately $629 million. BlackRock, Inc. increased its stake by 539,834 shares, bringing its total to 5,640,118 shares worth about $328 million. Wellington Management Group LLP made a smaller addition of 64,862 shares, reaching a total of 4,829,641 shares valued at $281 million. Meanwhile, Driehaus Capital Management LLC reduced its position by 47,038 shares, holding 4,491,653 shares worth $261 million.

Xenon Pharmaceuticals Inc. Stock Up 51.8%

Shares of Xenon Pharmaceuticals traded around $52.10. The company has a market cap of approximately $5.04 billion, with a forward P/E ratio that is not meaningful due to its lack of profitability. Xenon's beta is 0.628, indicating lower volatility compared to the market. The stock's 52-week range is between $30.00 and $63.95, with a 50-day moving average of $55.46 and a 200-day moving average of $46.17. The company's current ratio is a robust 27.79, and its debt-to-equity ratio is 0.56.

Insider Buying and Selling at Xenon Pharmaceuticals Inc.

Recent insider transactions at Xenon Pharmaceuticals included planned sales by Cannon Gillian and Gary Patou, with each selling 1,190 and 1,322 shares respectively at an average price of $53.14 on June 5, 2026. On June 3, 2026, Gary Patou, Patrick Machado, and Steven Gannon each purchased 10,507 shares, though the price was not specified.

Analysts Set New Price Targets

On May 27, 2026, JP Morgan maintained its 'buy' rating for Xenon Pharmaceuticals and set a price target of $82. RBC Capital and Needham also maintained their 'buy' ratings with targets of $82 and $78, respectively. The overall analyst consensus for Xenon Pharmaceuticals is a 'strong buy', with a mean price target of $80.56 based on 19 analyst opinions.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc. is a biopharmaceutical company focused on neuroscience, headquartered in Burnaby, Canada. The company develops therapies for neurological and psychiatric disorders. Its lead product candidate, Azetukalner, is in Phase 3 trials for epilepsy and other disorders. Xenon collaborates with Neurocrine Biosciences on NBI-921355, a sodium channel inhibitor in Phase 1 trials for epilepsy.

Bottom Line

Avoro Capital Advisors' increased stake in Xenon Pharmaceuticals signals confidence in the company's potential, though it's important to remember that 13F filings are backward-looking and may not reflect current positions. Investors track these filings to gauge institutional sentiment and potential market movements.