Cubist Systematic Strategies LLC Reduces Holdings in Xencor, Inc. (NASDAQ:XNCR)

Cubist Systematic Strategies LLC decreased its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 47.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,653 shares of the biopharmaceutical company’s stock after selling 91,691 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.16% of Xencor worth $1,924,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in XNCR. Parallel Advisors LLC boosted its stake in shares of Xencor by 303.9% during the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 1,015 shares during the period. GAMMA Investing LLC boosted its stake in shares of Xencor by 153.7% during the first quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 1,316 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Xencor during the second quarter worth about $154,000. XTX Topco Ltd acquired a new stake in shares of Xencor during the second quarter worth about $196,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Xencor during the first quarter worth about $206,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on XNCR shares. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 target price on shares of Xencor in a research note on Tuesday, August 6th. Wedbush restated an “outperform” rating and issued a $34.00 price objective on shares of Xencor in a research report on Monday, September 9th. Raymond James reduced their price objective on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price objective on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Xencor has an average rating of “Moderate Buy” and an average target price of $34.78.

Xencor Price Performance

XNCR stock opened at $20.11 on Tuesday. The firm has a 50 day moving average of $18.63 and a 200-day moving average of $20.29. Xencor, Inc. has a 12-month low of $15.31 and a 12-month high of $26.84. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -9.18 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The business had revenue of $16.96 million for the quarter, compared to analysts’ expectations of $21.13 million. During the same period last year, the business earned ($0.37) earnings per share. The company’s revenue for the quarter was down 62.7% on a year-over-year basis. As a group, equities analysts expect that Xencor, Inc. will post -4.15 EPS for the current fiscal year.

Insider Transactions at Xencor

In other news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $665,547.28. Following the completion of the transaction, the vice president now directly owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.23% of the company’s stock.

Xencor Company 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.