Cubist Systematic Strategies LLC Buys Shares of 155,580 Xencor, Inc. $XNCR

Key Points

• Cubist Systematic Strategies LLC acquired 155,580 shares of Xencor, Inc., valued at approximately $1.66 million, reflecting a 0.22% ownership in the company as of the latest quarter.
• Multiple hedge funds have adjusted their stakes in Xencor, with GF Fund Management and others entering new positions, while CWM LLC notably increased its holdings by 195.5% during the recent quarter.
• Analysts have varying ratings on Xencor, with Wells Fargo reducing its price objective from $33.00 to $27.00 and Bank of America dropping its rating to "neutral" with a target of $12.00.

Cubist Systematic Strategies LLC acquired a new stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 155,580 shares of the biopharmaceutical company's stock, valued at approximately $1,655,000. Cubist Systematic Strategies LLC owned about 0.22% of Xencor at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of XNCR. Northern Trust Corp grew its position in Xencor by 19.3% in the 4th quarter. Northern Trust Corp now owns 747,152 shares of the biopharmaceutical company's stock valued at $17,170,000 after buying an additional 120,655 shares during the last quarter. Comerica Bank grew its position in Xencor by 12.1% in the 4th quarter. Comerica Bank now owns 20,527 shares of the biopharmaceutical company's stock valued at $472,000 after buying an additional 2,219 shares during the last quarter. Ameriprise Financial Inc. grew its position in Xencor by 72.4% in the 4th quarter. Ameriprise Financial Inc. now owns 292,576 shares of the biopharmaceutical company's stock valued at $6,723,000 after buying an additional 122,870 shares during the last quarter. BNP Paribas Financial Markets grew its position in Xencor by 23.7% in the 4th quarter. BNP Paribas Financial Markets now owns 16,528 shares of the biopharmaceutical company's stock valued at $380,000 after buying an additional 3,171 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Xencor by 53.1% in the 4th quarter. Deutsche Bank AG now owns 58,041 shares of the biopharmaceutical company's stock valued at $1,334,000 after buying an additional 20,128 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Bank of America cut shares of Xencor from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $23.00 to $12.00 in a research note on Wednesday, September 3rd. Royal Bank Of Canada lowered their price target on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, August 21st. Finally, Wedbush reaffirmed an "outperform" rating and set a $26.00 price target on shares of Xencor in a research note on Tuesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Xencor currently has an average rating of "Moderate Buy" and a consensus price target of $22.25.

Xencor Stock Up 0.6%

Shares of Xencor stock traded up $0.05 on Wednesday, hitting $8.36. The company's stock had a trading volume of 986,482 shares, compared to its average volume of 765,070. Xencor, Inc. has a 52-week low of $6.92 and a 52-week high of $27.24. The firm has a fifty day moving average price of $8.31 and a 200-day moving average price of $9.49. The company has a market capitalization of $596.26 million, a P/E ratio of -3.48 and a beta of 0.82.

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

Insider Buying and Selling

In related news, Director Ellen Feigal sold 2,993 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the sale, the director directly owned 19,183 shares in the company, valued at $176,867.26. The trade was a 13.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard J. Ranieri sold 2,993 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the completion of the sale, the director owned 19,183 shares in the company, valued at $176,867.26. This represents 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 worth $103,209 in the last three months. Corporate insiders own 5.23% of the company's stock.

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.