Maryland State Retirement & Pension System Trims Stock Position in Xencor, Inc. $XNCR

Maryland State Retirement & Pension System decreased its stake in Xencor, Inc. (NASDAQ:XNCR) by 13.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,377 shares of the biopharmaceutical company’s stock after selling 3,190 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Xencor were worth $217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its holdings in Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,040 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Xencor during the 4th quarter valued at approximately $34,000. CWM LLC lifted its stake in shares of Xencor by 195.5% in the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 2,231 shares during the period. Mackenzie Financial Corp purchased a new stake in Xencor during the fourth quarter worth $101,000. Finally, Summit Investment Advisors Inc. grew its position in Xencor by 22.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 1,282 shares during the period.

Insiders Place Their Bets

In related news, Director Kurt A. Gustafson sold 2,993 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the transaction, the director directly owned 20,183 shares in the company, valued at approximately $186,087.26. This represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ellen Feigal sold 2,993 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the completion of the transaction, the director owned 19,183 shares of the company’s stock, valued at $176,867.26. The trade was a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,194 shares of company stock valued at $103,209 over the last ninety days. Company insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on XNCR. Wells Fargo & Company decreased their price objective on shares of Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Barclays cut their price target on Xencor from $22.00 to $6.00 and set an “underweight” rating for the company in a research note on Thursday, May 8th. Finally, Wedbush lowered their price target on Xencor from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average target price of $26.43.

Xencor Stock Performance

NASDAQ XNCR opened at $7.59 on Wednesday. The stock’s fifty day moving average is $8.44 and its two-hundred day moving average is $10.37. The firm has a market capitalization of $541.32 million, a P/E ratio of -3.16 and a beta of 0.89. Xencor, Inc. has a fifty-two week low of $6.92 and a fifty-two week high of $27.24.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.37. The business had revenue of $43.61 million for the quarter, compared to analyst estimates of $22.59 million. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.The company’s quarterly revenue was up 82.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.07) EPS. As a group, sell-side analysts forecast that Xencor, Inc. will post -3.68 EPS for the current year.

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.