BlackRock Inc. Buys Shares of 13,651,261 Xencor, Inc. $XNCR

BlackRock Inc. purchased a new position in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,651,261 shares of the biopharmaceutical company's stock, valued at approximately $219,785,000. BlackRock Inc. owned approximately 18.41% of Xencor at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of XNCR. Tower Research Capital LLC TRC boosted its position in Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Xencor in the second quarter valued at $79,000. Norges Bank acquired a new position in shares of Xencor during the 4th quarter worth $175,000. Prelude Capital Management LLC acquired a new stake in Xencor in the 3rd quarter valued at about $139,000. Finally, Entropy Technologies LP purchased a new position in Xencor during the 4th quarter valued at about $183,000.

Xencor Trading Up 1.5%

Shares of XNCR opened at $28.88 on Friday. Xencor, Inc. has a 52 week low of $7.83 and a 52 week high of $30.61. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -13.31 and a beta of 0.85. The stock has a 50 day moving average of $19.54 and a 200-day moving average of $14.69.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.51. The business had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The company's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) EPS. On average, sell-side analysts predict that Xencor, Inc. will post -3 earnings per share for the current fiscal year.

Analyst Ratings Changes

XNCR has been the subject of several research reports. Truist Financial cut their price objective on Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price target on Xencor from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xencor in a research note on Wednesday, June 24th. Zacks Research upgraded Xencor from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Wedbush boosted their target price on shares of Xencor from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $24.86.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor's research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.

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