Cannell & Co. Buys New Stake in Xencor, Inc. (NASDAQ:XNCR)

Cannell & Co. purchased a new position in shares of Xencor, Inc. (NASDAQ:XNCR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,600 shares of the biopharmaceutical company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Xencor by 2.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,798 shares of the biopharmaceutical company’s stock worth $654,000 after purchasing an additional 615 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Xencor by 4.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 16,781 shares of the biopharmaceutical company’s stock worth $338,000 after purchasing an additional 718 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Xencor by 95.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,548 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 756 shares during the last quarter. Teacher Retirement System of Texas increased its position in Xencor by 5.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,428 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 761 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Xencor by 498.7% in the fourth quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 1,147 shares during the last quarter.

Insider Buying and Selling at Xencor

In related news, VP John R. Desjarlais sold 54,108 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the transaction, the vice president now directly owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP John R. Desjarlais sold 54,108 shares of Xencor stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the transaction, the vice president now owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John R. Desjarlais sold 1,280 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $23.50, for a total transaction of $30,080.00. Following the completion of the sale, the vice president now directly owns 186,433 shares in the company, valued at approximately $4,381,175.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,351 shares of company stock valued at $2,152,417. Insiders own 4.97% of the company’s stock.

Analyst Ratings Changes

XNCR has been the topic of several research analyst reports. BTIG Research lowered their price target on Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. BMO Capital Markets lowered their target price on Xencor from $38.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Xencor in a report on Wednesday, February 28th. Piper Sandler reaffirmed a “neutral” rating and set a $24.00 target price (down previously from $37.00) on shares of Xencor in a report on Wednesday, February 28th. Finally, StockNews.com raised Xencor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Xencor Stock Down 1.3 %

Shares of Xencor stock opened at $23.63 on Friday. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $21.89 and a two-hundred day simple moving average of $20.44. Xencor, Inc. has a 52-week low of $16.49 and a 52-week high of $28.96.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.67). The company had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The firm’s revenue for the quarter was up 106.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) earnings per share. Equities research analysts forecast that Xencor, Inc. will post -3.25 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.