Principal Financial Group Inc. Grows Holdings in Xencor, Inc. (NASDAQ:XNCR)

Principal Financial Group Inc. lifted its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,726 shares of the biopharmaceutical company’s stock after acquiring an additional 8,581 shares during the period. Principal Financial Group Inc. owned about 0.49% of Xencor worth $3,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,040 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Xencor in the 4th quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its holdings in shares of Xencor by 49.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 1,337 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Xencor during the fourth quarter worth approximately $101,000. Finally, GAMMA Investing LLC grew its position in Xencor by 348.5% in the first quarter. GAMMA Investing LLC now owns 9,629 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 7,482 shares during the period.

Xencor Stock Up 2.7%

XNCR opened at $9.07 on Friday. Xencor, Inc. has a 12 month low of $7.16 and a 12 month high of $27.24. The company has a market cap of $645.51 million, a P/E ratio of -2.96 and a beta of 0.85. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $8.48 and its 200-day moving average price is $12.46.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.06). Xencor had a negative net margin of 181.17% and a negative return on equity of 31.94%. The firm had revenue of $32.73 million for the quarter, compared to the consensus estimate of $23.44 million. During the same period in the previous year, the firm posted ($1.11) earnings per share. The business’s revenue was up 104.6% compared to the same quarter last year. On average, equities analysts expect that Xencor, Inc. will post -3.68 EPS for the current year.

Insiders Place Their Bets

In other Xencor news, EVP Nancy Valente sold 4,616 shares of the business’s stock in a transaction on 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 directly owned 49,169 shares in the company, valued at approximately $542,334.07. The trade was a 8.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Ranieri sold 2,993 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $9.22, for a total transaction of $27,595.46. Following the sale, the director owned 19,183 shares of the company’s stock, valued at approximately $176,867.26. This represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,810 shares of company stock valued at $154,123. Insiders own 4.76% of the company’s stock.

Analyst Upgrades and Downgrades

XNCR has been the topic of several research reports. Barclays cut their price target on Xencor from $22.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, May 8th. William Blair started coverage on Xencor in a report on Monday, April 21st. They set an “outperform” rating for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $31.00 price target on shares of Xencor in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.00.

About Xencor

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.