Ameriprise Financial Inc. Has $6.72 Million Stake in Xencor, Inc. (NASDAQ:XNCR)

Ameriprise Financial Inc. increased its holdings in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 72.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,576 shares of the biopharmaceutical company's stock after buying an additional 122,870 shares during the period. Ameriprise Financial Inc. owned 0.42% of Xencor worth $6,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XNCR. Sterling Capital Management LLC raised its position in Xencor by 732.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,040 shares in the last quarter. KBC Group NV raised its position in 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 purchasing an additional 813 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Xencor by 49.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 1,337 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Xencor by 22.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company's stock valued at $162,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Xencor by 132.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,865 shares of the biopharmaceutical company's stock valued at $181,000 after purchasing an additional 4,482 shares in the last quarter.

Xencor Stock Performance

NASDAQ XNCR opened at $7.69 on Friday. The firm's fifty day moving average price is $9.77 and its two-hundred day moving average price is $16.84. The stock has a market cap of $547.30 million, a PE ratio of -2.40 and a beta of 0.99. Xencor, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $27.24. 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 issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.06). Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $32.73 million during the quarter, compared to the consensus estimate of $23.44 million. During the same period in the prior year, the firm earned ($1.11) EPS. The business's revenue for the quarter was up 104.6% compared to the same quarter last year. On average, equities analysts expect that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Nancy Valente sold 4,616 shares of the business's stock in a transaction on 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 owns 49,169 shares of the company's stock, valued at $542,334.07. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on XNCR shares. Barclays lowered 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, May 8th. Wall Street Zen downgraded shares of Xencor from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Wells Fargo & Company lowered 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. William Blair started coverage on shares of Xencor in a research report on Monday, April 21st. They set an "outperform" rating for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $31.00 target price on shares of Xencor in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.50.

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.

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