ADAR1 Capital Management LLC Boosts Stock Holdings in Xencor, Inc. $XNCR

Key Points

• ADAR1 Capital Management LLC increased its holdings in Xencor, Inc. by 69.7% during the 1st quarter, owning 398,152 shares worth approximately $4.24 million after acquiring an additional 163,545 shares.
• Xencor reported a quarterly earnings per share of ($0.41), exceeding estimates, alongside a revenue increase of 82.4% year-over-year at $43.61 million.
• Analysts have varied price targets for Xencor, ranging from $6.00 to $32.00, with most ratings categorized as "Moderate Buy" and an average target price of $23.71.

ADAR1 Capital Management LLC lifted its position in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 69.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 398,152 shares of the biopharmaceutical company's stock after acquiring an additional 163,545 shares during the quarter. ADAR1 Capital Management LLC owned 0.56% of Xencor worth $4,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Primecap Management Co. CA grew its position in Xencor by 8.6% during the first quarter. Primecap Management Co. CA now owns 9,761,012 shares of the biopharmaceutical company's stock worth $103,857,000 after buying an additional 776,580 shares during the period. RTW Investments LP grew its position in Xencor by 317.9% during the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company's stock worth $55,218,000 after buying an additional 1,827,883 shares during the period. Braidwell LP grew its position in Xencor by 169.0% during the first quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company's stock worth $17,617,000 after buying an additional 1,040,159 shares during the period. Dimensional Fund Advisors LP grew its position in Xencor by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,532 shares of the biopharmaceutical company's stock worth $34,509,000 after buying an additional 102,297 shares during the period. Finally, Woodline Partners LP grew its position in Xencor by 0.3% during the fourth quarter. Woodline Partners LP now owns 845,916 shares of the biopharmaceutical company's stock worth $19,439,000 after buying an additional 2,591 shares during the period.

Xencor Trading Up 0.5%

Shares of XNCR stock traded up $0.04 during trading hours on Thursday, hitting $8.37. The company's stock had a trading volume of 870,106 shares, compared to its average volume of 731,012. The stock has a market cap of $596.95 million, a price-to-earnings ratio of -3.49 and a beta of 0.82. The business has a fifty day moving average of $8.28 and a 200-day moving average of $9.69. Xencor, Inc. has a twelve month low of $6.92 and a twelve month high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.37. The business had revenue of $43.61 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.07) earnings per share. On average, equities analysts expect that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on XNCR shares. Wells Fargo & Company lowered their target price on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Wedbush restated an "outperform" rating and set a $26.00 target price on shares of Xencor in a research report on Tuesday. Barclays lowered their target price on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a research report on Thursday, May 8th. Bank of America lowered shares of Xencor from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $12.00 in a research report on Wednesday. Finally, 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 report on Thursday, August 21st. Seven 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 company's stock. According to MarketBeat.com, Xencor has an average rating of "Moderate Buy" and a consensus price target of $22.25.

Insider Activity at Xencor

In related news, Director Kurt A. Gustafson 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ellen Feigal 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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,194 shares of company stock valued at $103,209. Company insiders own 4.76% of the company's stock.

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.