Braidwell LP Lowers Holdings in Xencor, Inc. $XNCR

Braidwell LP trimmed its position in Xencor, Inc. (NASDAQ:XNCR) by 24.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,246,280 shares of the biopharmaceutical company’s stock after selling 409,410 shares during the period. Braidwell LP owned 1.75% of Xencor worth $14,619,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Primecap Management Co. CA boosted its stake in Xencor by 1.4% during the third quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock valued at $125,218,000 after buying an additional 147,700 shares during the period. Geode Capital Management LLC raised its holdings in shares of Xencor by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,703,664 shares of the biopharmaceutical company’s stock valued at $13,393,000 after acquiring an additional 29,316 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Xencor by 603.7% in the 3rd quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock valued at $14,932,000 after acquiring an additional 1,092,095 shares in the last quarter. UBS Group AG boosted its position in shares of Xencor by 51.4% during the 3rd quarter. UBS Group AG now owns 1,175,267 shares of the biopharmaceutical company’s stock valued at $13,786,000 after acquiring an additional 399,071 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Xencor by 94.5% during the second quarter. Bank of America Corp DE now owns 938,993 shares of the biopharmaceutical company’s stock worth $7,380,000 after purchasing an additional 456,302 shares in the last quarter.

Xencor Stock Up 3.4%

Shares of XNCR opened at $12.00 on Friday. Xencor, Inc. has a 1 year low of $6.92 and a 1 year high of $18.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.25 and a quick ratio of 6.25. The stock has a 50 day simple moving average of $12.47 and a two-hundred day simple moving average of $13.10. The firm has a market cap of $880.08 million, a P/E ratio of -9.68 and a beta of 0.95.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.55. The firm had revenue of $28.24 million for the quarter, compared to the consensus estimate of $29.97 million. Xencor had a negative net margin of 73.20% and a negative return on equity of 14.58%. The business’s revenue was down 46.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.62) earnings per share. On average, analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xencor news, SVP Celia Eckert sold 3,244 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $11.25, for a total value of $36,495.00. Following the completion of the sale, the senior vice president directly owned 78,685 shares of the company’s stock, valued at $885,206.25. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bassil I. Dahiyat sold 114,377 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $15.71, for a total transaction of $1,796,862.67. Following the sale, the chief executive officer owned 466,635 shares of the company’s stock, valued at approximately $7,330,835.85. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 231,764 shares of company stock worth $3,450,009 in the last 90 days. 4.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research report on Monday, December 29th. Barclays boosted their price target on shares of Xencor from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Xencor from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, Truist Financial began coverage on shares of Xencor in a research report on Monday, November 24th. They set a “buy” rating and a $29.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Xencor Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.