BVF Inc. IL Buys 451,381 Shares of Xencor, Inc. $XNCR

Key Points

• BVF Inc. IL increased its stake in Xencor, Inc. by 19.7%, acquiring an additional 451,381 shares, bringing its total ownership to approximately 2.74 million shares valued at around $29.15 million.
• Xencor reported a quarterly revenue of $43.61 million, surpassing analysts' estimates by 93%, despite recording a negative EPS of ($0.41).
• Analyst ratings for Xencor show a consensus of "Moderate Buy", with a target price of $23.71, following recent adjustments from various financial institutions.

BVF Inc. IL boosted its holdings in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,740,141 shares of the biopharmaceutical company's stock after buying an additional 451,381 shares during the quarter. Xencor makes up about 1.2% of BVF Inc. IL's investment portfolio, making the stock its 19th largest holding. BVF Inc. IL owned approximately 3.85% of Xencor worth $29,155,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in XNCR. 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 valued at $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 valued at $17,617,000 after buying an additional 1,040,159 shares during the period. 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 valued at $103,857,000 after buying an additional 776,580 shares during the period. Nuveen Asset Management LLC grew its position in Xencor by 452.4% during the fourth quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company's stock valued at $19,236,000 after buying an additional 685,557 shares during the period. Finally, Nantahala Capital Management LLC bought a new stake in Xencor during the first quarter valued at approximately $4,860,000.

Xencor Stock Performance

XNCR stock opened at $8.55 on Wednesday. Xencor, Inc. has a one year low of $6.92 and a one year high of $27.24. The company's fifty day moving average price is $8.29 and its 200-day moving average price is $9.76. The company has a market capitalization of $609.79 million, a PE ratio of -3.56 and a beta of 0.82.

Xencor (NASDAQ:XNCR - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.37. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The firm had revenue of $43.61 million for the quarter, compared to the consensus estimate of $22.59 million. During the same quarter in the previous year, the firm earned ($1.07) earnings per share. The company's quarterly revenue was up 82.4% compared to the same quarter last year. On average, research analysts predict that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Transactions at Xencor

In related news, Director Richard J. Ranieri sold 2,993 shares of the company's stock in a transaction 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 sale, the director owned 19,183 shares of the company's stock, valued at $176,867.26. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kurt A. Gustafson sold 2,993 shares of the company's stock in a transaction 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 sale, the director directly owned 20,183 shares in the company, valued at approximately $186,087.26. The trade was a 12.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,194 shares of company stock valued at $103,209. 5.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

XNCR has been the subject of several recent research reports. Wedbush restated an "outperform" rating and set a $26.00 target price on shares of Xencor in a research report on Tuesday. Barclays dropped their price target 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. Wells Fargo & Company dropped their price target 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, Royal Bank Of Canada dropped their price target on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research report on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.71.

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.

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