5 Stocks Under $30 to Buy Today According to Billionaire Steven Cohen

4. Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Point72 Asset Management’s Holdings: $65.6 million

Percentage of Point72 Asset Management’s Portfolio: 0.26%

Number of Hedge Fund Holders: 40

Share price on May 27, 2022: $26.54

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) is a biotechnology company that is based in Burnaby, Canada. The firm focuses on developing treatments for neurological diseases such as epilepsy and the resulting complications.

As part of its first fiscal quarter results, Xenon Pharmaceuticals Inc. (NASDAQ:XENE) revealed that it had managed to earn $8.7 million in revenue and -$0.35 in GAAP EPS, beating Wall Street estimates for both. The company kicked off a trial of its drug for major depressive disorder in May 2022.

Mr. Cohen’s investment firm had invested $65.6 million in Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by owning 2.1 million shares of the company in the first quarter of this year. For the same time period, 40 of the 912 hedge funds part of Insider Monkey’s study had also bought the company’s shares.

Kurt Von Emster’s VenBio Select Advisor is Xenon Pharmaceuticals Inc. (NASDAQ:XENE)’s largest investor. It owns 4.9 million shares that are worth $152 million.