Nuveen LLC Purchases Shares of 161,149 Xencor, Inc. $XNCR

Key Points

• Nuveen LLC has acquired a new stake in Xencor, Inc., purchasing 161,149 shares valued at approximately $1.7 million, representing 0.23% ownership as of the end of the last quarter.
• Investment analysts have mixed opinions on Xencor's prospects, with an average price target of $23.71 and seven analysts rating it as a "Buy" while one analyst issued a "Sell" rating.
• Xencor's latest earnings report showed a significant revenue increase of 82.4% year-over-year, with reported revenue of $43.61 million, beating estimates by $21.02 million.

Nuveen LLC purchased a new stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 161,149 shares of the biopharmaceutical company's stock, valued at approximately $1,715,000. Nuveen LLC owned approximately 0.23% of Xencor at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Xencor by 7.3% in the fourth 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 in the last quarter. MetLife Investment Management LLC lifted its position in Xencor by 16.9% in the fourth quarter. MetLife Investment Management LLC now owns 40,740 shares of the biopharmaceutical company's stock valued at $936,000 after purchasing an additional 5,888 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Xencor by 132.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,865 shares of the biopharmaceutical company's stock valued at $181,000 after acquiring an additional 4,482 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Xencor during the 4th quarter valued at approximately $235,000. Finally, Northern Trust Corp raised its position in shares of Xencor by 19.3% during the 4th quarter. Northern Trust Corp now owns 747,152 shares of the biopharmaceutical company's stock worth $17,170,000 after purchasing an additional 120,655 shares during the last quarter.

Xencor Trading Up 0.5%

Shares of XNCR traded up $0.04 during midday trading on Thursday, reaching $8.37. The stock had a trading volume of 870,106 shares, compared to its average volume of 731,012. The firm has a 50 day simple moving average of $8.28 and a 200-day simple moving average of $9.69. Xencor, Inc. has a one year low of $6.92 and a one year high of $27.24. The firm has a market cap of $596.95 million, a PE ratio of -3.49 and a beta of 0.82.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.37. The company had revenue of $43.61 million during the quarter, compared to the consensus estimate of $22.59 million. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The company's quarterly revenue was up 82.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.07) EPS. As a group, research analysts forecast that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard J. Ranieri sold 2,993 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were 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 of the company's stock, valued at approximately $176,867.26. This represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kurt A. Gustafson sold 2,993 shares of the company'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 20,183 shares of the company's stock, valued at approximately $186,087.26. This represents a 12.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,194 shares of company stock worth $103,209 in the last quarter. Corporate insiders own 4.76% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on XNCR shares. Bank of America cut shares of Xencor from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $23.00 to $12.00 in a research note on Wednesday. Royal Bank Of Canada decreased their price objective on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, August 21st. Barclays cut their price target on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a report on Thursday, May 8th. Wells Fargo & Company cut their target price on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, Wedbush reissued an "outperform" rating and issued a $26.00 target price on shares of Xencor in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.25.

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.