Bank of America Corp DE Sells 585,930 Shares of Xencor, Inc. (NASDAQ:XNCR)

Bank of America Corp DE lowered its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 94.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,507 shares of the biopharmaceutical company’s stock after selling 585,930 shares during the period. Bank of America Corp DE’s holdings in Xencor were worth $770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Finepoint Capital LP bought a new stake in shares of Xencor in the fourth quarter worth $15,167,000. Vanguard Group Inc. raised its position in shares of Xencor by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company’s stock worth $184,239,000 after acquiring an additional 418,040 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Xencor by 21.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,092,346 shares of the biopharmaceutical company’s stock worth $25,102,000 after acquiring an additional 192,080 shares during the period. Geode Capital Management LLC boosted its holdings in Xencor by 12.3% in the fourth quarter. Geode Capital Management LLC now owns 1,634,876 shares of the biopharmaceutical company’s stock valued at $37,578,000 after acquiring an additional 179,526 shares during the last quarter. Finally, Barclays PLC increased its position in Xencor by 112.6% during the 4th quarter. Barclays PLC now owns 330,745 shares of the biopharmaceutical company’s stock valued at $7,600,000 after purchasing an additional 175,177 shares during the period.

Insiders Place Their Bets

In other news, EVP Nancy Valente sold 4,616 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.03, for a total transaction of $50,914.48. Following the completion of the sale, the executive vice president now owns 49,169 shares of the company’s stock, valued at $542,334.07. This represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on XNCR. Barclays cut their target price on Xencor from $22.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Wedbush reissued an “outperform” rating and set a $31.00 target price on shares of Xencor in a research note on Wednesday, April 30th. Wells Fargo & Company reduced their price target on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, William Blair assumed coverage on shares of Xencor in a report on Monday, April 21st. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Xencor Stock Up 5.8%

XNCR stock opened at $9.65 on Monday. Xencor, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $27.24. The company has a market capitalization of $686.80 million, a price-to-earnings ratio of -3.02 and a beta of 0.87. The business’s 50 day moving average price is $8.98 and its two-hundred day moving average price is $15.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.06). Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business had revenue of $32.73 million for the quarter, compared to analysts’ expectations of $23.44 million. During the same quarter in the previous year, the business posted ($1.11) earnings per share. Xencor’s revenue for the quarter was up 104.6% on a year-over-year basis. As a group, analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

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.