Assenagon Asset Management S.A. Sells 98,614 Shares of Xencor, Inc. (NASDAQ:XNCR)

Assenagon Asset Management S.A. lessened its holdings in Xencor, Inc. (NASDAQ:XNCRGet Rating) by 67.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,987 shares of the biopharmaceutical company’s stock after selling 98,614 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of Xencor worth $1,221,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of XNCR. US Bancorp DE increased its position in Xencor by 324.9% during the 2nd quarter. US Bancorp DE now owns 939 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 718 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Xencor during the second quarter worth $1,076,000. Nisa Investment Advisors LLC bought a new position in shares of Xencor in the 2nd quarter valued at $27,000. Tekla Capital Management LLC boosted its holdings in shares of Xencor by 110.3% during the 2nd quarter. Tekla Capital Management LLC now owns 236,996 shares of the biopharmaceutical company’s stock valued at $6,487,000 after acquiring an additional 124,323 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Xencor by 5.8% during the 2nd quarter. Arizona State Retirement System now owns 15,056 shares of the biopharmaceutical company’s stock worth $412,000 after acquiring an additional 828 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. upgraded Xencor from a “sell” rating to a “hold” rating in a report on Monday, November 14th. Cowen assumed coverage on shares of Xencor in a research report on Tuesday, December 6th. They issued an “outperform” rating for the company. Royal Bank of Canada reduced their price objective on shares of Xencor from $40.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 8th. Canaccord Genuity Group lowered their target price on Xencor from $50.00 to $48.00 in a research report on Wednesday, November 9th. Finally, Raymond James upgraded Xencor from an “outperform” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Thursday, October 13th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $48.89.

Insider Buying and Selling at Xencor

In other news, CMO Allen Yang sold 3,737 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $27.00, for a total transaction of $100,899.00. Following the transaction, the chief marketing officer now owns 63,521 shares of the company’s stock, valued at approximately $1,715,067. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.23% of the company’s stock.

Xencor Price Performance

Shares of Xencor stock opened at $28.30 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 58.96 and a beta of 0.65. The stock’s 50-day moving average is $27.97 and its 200 day moving average is $28.16. Xencor, Inc. has a one year low of $19.35 and a one year high of $37.18.

Xencor (NASDAQ:XNCRGet Rating) last posted its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.22. The firm had revenue of $27.30 million for the quarter, compared to analysts’ expectations of $15.33 million. Xencor had a return on equity of 4.04% and a net margin of 10.07%. On average, sell-side analysts expect that Xencor, Inc. will post -1.61 EPS for the current fiscal year.

About Xencor

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Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.

Further Reading

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Institutional Ownership by Quarter for Xencor (NASDAQ:XNCR)

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