Mirae Asset Global Investments Co. Ltd. Raises Stake in Xencor, Inc. (NASDAQ:XNCR)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,798 shares of the biopharmaceutical company’s stock after buying an additional 615 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Xencor were worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in XNCR. BluePath Capital Management LLC bought a new position in Xencor in the 3rd quarter worth about $31,000. China Universal Asset Management Co. Ltd. increased its stake in Xencor by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,548 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 756 shares during the last quarter. Allworth Financial LP increased its stake in Xencor by 29,487.5% in the 4th quarter. Allworth Financial LP now owns 2,367 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 2,359 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Xencor by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,776 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Xencor in the 3rd quarter worth about $213,000.

Insider Activity at Xencor

In related news, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the completion of the sale, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Xencor news, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total value of $293,531.04. Following the completion of the sale, the chief executive officer now owns 300,097 shares in the company, valued at approximately $7,031,272.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the sale, the vice president now owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The disclosure for this sale can be found here. Insiders sold 101,351 shares of company stock worth $2,152,417 in the last ninety days. 4.97% of the stock is owned by company insiders.

Xencor Trading Up 1.1 %

Shares of XNCR stock opened at $19.23 on Friday. The stock has a market capitalization of $1.18 billion, a PE ratio of -9.16 and a beta of 0.76. Xencor, Inc. has a 1-year low of $16.49 and a 1-year high of $28.96. The business has a 50-day moving average of $22.10 and a 200 day moving average of $20.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.36 and a quick ratio of 7.36.

Xencor (NASDAQ:XNCR) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.67). The company had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The company’s revenue was up 106.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Xencor, Inc. will post -3.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on XNCR. BMO Capital Markets decreased their target price on Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Mizuho decreased their target price on Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, January 22nd. StockNews.com upgraded Xencor from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Piper Sandler reiterated a “neutral” rating and set a $24.00 price objective (down from $37.00) on shares of Xencor in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Xencor in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Xencor presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Xencor Profile

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.