Vanguard Group Inc. Trims Stake in Xencor, Inc. $XNCR

Vanguard Group Inc. lessened its position in Xencor, Inc. (NASDAQ:XNCR) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,898,466 shares of the biopharmaceutical company’s stock after selling 118,900 shares during the quarter. Vanguard Group Inc. owned 11.10% of Xencor worth $84,040,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Xencor by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,036,412 shares of the biopharmaceutical company’s stock valued at $92,758,000 after buying an additional 107,350 shares during the period. TCG Crossover Management LLC lifted its stake in shares of Xencor by 1.0% during the 4th quarter. TCG Crossover Management LLC now owns 2,452,138 shares of the biopharmaceutical company’s stock worth $56,350,000 after acquiring an additional 25,000 shares during the last quarter. RTW Investments LP lifted its stake in shares of Xencor by 317.9% during the 4th quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock worth $55,218,000 after acquiring an additional 1,827,883 shares during the last quarter. BVF Inc. IL boosted its holdings in Xencor by 169.3% during the 4th quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company’s stock valued at $52,596,000 after acquiring an additional 1,438,760 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Xencor by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,532 shares of the biopharmaceutical company’s stock valued at $34,509,000 after acquiring an additional 102,297 shares during the period.

Wall Street Analyst Weigh In

XNCR has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Xencor from $33.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Barclays reduced their price target on shares of Xencor from $22.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada lowered their price objective on shares of Xencor from $32.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Wedbush reduced their target price on shares of Xencor from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.71.

Insider Activity at Xencor

In other news, Director Kurt A. Gustafson sold 2,993 shares of Xencor stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the transaction, the director owned 20,183 shares of the company’s stock, valued at $186,087.26. The trade was a 12.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Ranieri sold 2,993 shares of the business’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 transaction of $27,595.46. Following the transaction, the director owned 19,183 shares of the company’s stock, valued at approximately $176,867.26. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,194 shares of company stock valued at $103,209 over the last quarter. 4.76% of the stock is owned by corporate insiders.

Xencor Stock Up 13.0%

Shares of NASDAQ:XNCR opened at $8.41 on Friday. The company has a market capitalization of $599.80 million, a price-to-earnings ratio of -3.50 and a beta of 0.89. Xencor, Inc. has a 52 week low of $6.92 and a 52 week high of $27.24. The firm has a 50 day moving average of $8.34 and a 200 day moving average of $10.17.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.37. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.The business had revenue of $43.61 million for the quarter, compared to analysts’ expectations of $22.59 million. During the same quarter last year, the firm earned ($1.07) EPS. The business’s revenue for the quarter was up 82.4% on a year-over-year basis. On average, sell-side analysts expect that Xencor, Inc. will post -3.68 EPS for the current 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.