Wellington Management Group LLP Purchases New Shares in Xencor, Inc. (NASDAQ:XNCR)

Wellington Management Group LLP bought a new position in Xencor, Inc. (NASDAQ:XNCR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 27,491 shares of the biopharmaceutical company's stock, valued at approximately $632,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XNCR. Sterling Capital Management LLC boosted its holdings in shares of Xencor by 732.4% during the fourth 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. GF Fund Management CO. LTD. bought a new stake in shares of Xencor during the fourth quarter valued at approximately $34,000. KBC Group NV increased its position in shares of Xencor by 26.0% during the fourth quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company's stock valued at $90,000 after acquiring an additional 813 shares in the last quarter. 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, Mackenzie Financial Corp bought a new stake in Xencor in the 4th quarter worth approximately $101,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on XNCR. Barclays dropped their price target on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a research note on Thursday, May 8th. Wells Fargo & Company reduced their price target on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. William Blair initiated coverage on shares of Xencor in a report on Monday, April 21st. They issued an "outperform" rating on the stock. Wall Street Zen downgraded shares of Xencor from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Finally, Wedbush reissued an "outperform" rating and issued a $31.00 price objective on shares of Xencor in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.50.

Insider Buying and Selling at Xencor

In other Xencor news, EVP Nancy Valente sold 4,616 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $11.03, for a total transaction of $50,914.48. Following the transaction, the executive vice president now owns 49,169 shares in the company, valued at approximately $542,334.07. This represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.76% of the stock is currently owned by company insiders.

Xencor Stock Performance

Xencor stock traded down $0.22 during mid-day trading on Wednesday, reaching $9.52. 482,548 shares of the company traded hands, compared to its average volume of 667,272. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. Xencor, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $27.24. The company has a market capitalization of $677.55 million, a price-to-earnings ratio of -2.98 and a beta of 0.87. The firm's fifty day moving average is $9.01 and its two-hundred day moving average is $15.41.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.06). Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company had revenue of $32.73 million for the quarter, compared to analyst estimates of $23.44 million. During the same quarter in the previous year, the company posted ($1.11) EPS. The company's revenue for the quarter was up 104.6% compared to the same quarter last year. On average, equities research analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Xencor 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.