How Xenon Pharmaceuticals Inc (XENE) Stacks Up Against Its Peers

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Consequently, some big names have been driving this bullishness. OrbiMed Advisors, led by Samuel Isaly, assembled the most valuable position in Xenon Pharmaceuticals Inc (NASDAQ:XENE). OrbiMed Advisors had $8.1 million invested in the company at the end of the quarter. Ken Greenberg and David Kim’s Ghost Tree Capital also made a $2.6 million investment in the stock during the quarter. The only other fund with a new position in the stock is James Dondero’s Highland Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Xenon Pharmaceuticals Inc (NASDAQ:XENE) but similarly valued. We will take a look at Vascular Biogenics Ltd (NASDAQ:VBLT), Evans Bancorp Inc. (NYSEAMEX:EVBN), JMP Group Inc. (NYSE:JMP), and Gemphire Therapeutics Inc (NASDAQ:GEMP). This group of stocks’ market valuations are similar to XENE’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
VBLT 4 5088 -1
EVBN 2 7191 -2
JMP 2 241 0
GEMP 4 14357 4

As you can see these stocks had an average of 3 hedge funds with bullish positions and the average amount invested in these stocks was $7 million. That figure was $59 million in XENE’s case. Vascular Biogenics Ltd (NASDAQ:VBLT) is the most popular stock in this table. On the other hand Evans Bancorp Inc. (NYSEAMEX:EVBN) is the least popular one with only 2 bullish hedge fund positions. Compared to these stocks Xenon Pharmaceuticals Inc (NASDAQ:XENE) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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