Deep Track Capital LP Trims Stake in Xencor, Inc. (NASDAQ:XNCR)

Deep Track Capital LP reduced its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the biopharmaceutical company's stock after selling 300,000 shares during the period. Deep Track Capital LP owned about 0.71% of Xencor worth $11,490,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in XNCR. Sterling Capital Management LLC grew its position in Xencor by 732.4% in the 4th 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 during the period. GAMMA Investing LLC grew its position in Xencor by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 508 shares during the period. KBC Group NV grew its position in Xencor by 26.0% in the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company's stock worth $90,000 after purchasing an additional 813 shares during the period. PNC Financial Services Group Inc. grew its position in Xencor by 49.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 1,337 shares during the period. Finally, Summit Investment Advisors Inc. grew its position in Xencor by 22.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company's stock worth $162,000 after purchasing an additional 1,282 shares during the period.

Xencor Price Performance

Shares of XNCR traded up $0.61 during midday trading on Monday, hitting $8.94. 326,049 shares of the company traded hands, compared to its average volume of 639,931. The firm has a 50 day moving average of $10.73 and a 200-day moving average of $17.61. Xencor, Inc. has a 52 week low of $7.16 and a 52 week high of $27.24. The stock has a market cap of $635.74 million, a price-to-earnings ratio of -2.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.06). The company had revenue of $32.73 million for the quarter, compared to the consensus estimate of $23.44 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm's revenue for the quarter was up 104.6% on a year-over-year basis. During the same period last year, the company earned ($1.11) EPS. On average, analysts forecast that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Activity

In related news, EVP Nancy Valente sold 4,616 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.03, for a total value of $50,914.48. Following the sale, the executive vice president now directly owns 49,169 shares of the company's stock, valued at $542,334.07. This represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Xencor from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Barclays cut their price objective on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research report on Thursday. William Blair initiated coverage on shares of Xencor in a research report on Monday, April 21st. They set an "outperform" rating for the company. Wedbush reissued an "outperform" rating and set a $31.00 price objective on shares of Xencor in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company cut their price objective on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $29.50.

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.