Goldman Sachs Group Inc. Has $7.73 Million Stock Position in Xencor, Inc. $XNCR

Key Points

• Goldman Sachs Group Inc. has significantly increased its stake in Xencor, Inc. by 89.9%, acquiring a total of 726,734 shares worth approximately $7.73 million.
• Several analysts have lowered their target prices for Xencor, with Royal Bank of Canada reducing its target from $32 to $15 while maintaining an "outperform" rating.
• Xencor reported a revenue increase of 82.4% year-over-year, with quarterly earnings per share of ($0.41), exceeding analysts' estimates.

Goldman Sachs Group Inc. grew its stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 89.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 726,734 shares of the biopharmaceutical company's stock after purchasing an additional 344,088 shares during the quarter. Goldman Sachs Group Inc. owned about 1.02% of Xencor worth $7,732,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Xencor in the 4th quarter valued at $34,000. State of Wyoming bought a new position in Xencor during the 1st quarter worth about $34,000. CWM LLC increased its holdings in Xencor by 195.5% during the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock worth $36,000 after purchasing an additional 2,231 shares in the last quarter. Mackenzie Financial Corp bought a new position in Xencor during the 4th quarter worth about $101,000. Finally, AlphaQuest LLC bought a new position in Xencor during the 1st quarter worth about $56,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on XNCR shares. Royal Bank Of Canada lowered their target price on Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 21st. Wells Fargo & Company decreased their price objective on Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Bank of America cut Xencor from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $12.00 in a report on Wednesday, September 3rd. Finally, Wedbush restated an "outperform" rating and issued a $26.00 price objective on shares of Xencor in a report on Tuesday, September 2nd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.25.

Insider Activity

In other news, Director Richard J. Ranieri sold 2,993 shares of Xencor stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the transaction, the director owned 19,183 shares in the company, valued at approximately $176,867.26. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kurt A. Gustafson sold 2,993 shares of the business's stock in a transaction on Monday, June 16th. The stock was 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. In the last quarter, insiders have sold 11,194 shares of company stock worth $103,209. Insiders own 4.76% of the company's stock.

Xencor Stock Up 1.2%

Shares of XNCR stock opened at $8.60 on Friday. The firm has a 50 day moving average price of $8.32 and a two-hundred day moving average price of $9.36. The company has a market capitalization of $613.38 million, a PE ratio of -3.58 and a beta of 0.82. Xencor, Inc. has a 12-month low of $6.92 and a 12-month high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $43.61 million during the quarter, compared to the consensus estimate of $22.59 million. During the same period in the previous year, the business earned ($1.07) earnings per share. The firm's quarterly revenue was up 82.4% on a year-over-year basis. As a group, research analysts expect that Xencor, Inc. will post -3.68 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.