Hsbc Holdings PLC Has $2.08 Million Position in Xencor, Inc. $XNCR

Key Points

• HSBC Holdings more than doubled its Xencor stake in the second quarter, increasing ownership by 114.2% to 125,482 shares valued at approximately $2.08 million.
• Institutional interest expanded broadly, with BlackRock and Primecap Management initiating positions worth about $219.8 million and $163.9 million, respectively. Other major funds, including BVF and State Street, also increased their holdings.
• Analysts rate Xencor a “Moderate Buy,” with an average price target of $31.86 versus a recent share price of $24.41. The company also beat quarterly earnings and revenue estimates, reporting a $0.29 loss per share versus the expected $0.80 loss.

Hsbc Holdings PLC grew its stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 114.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,482 shares of the biopharmaceutical company's stock after acquiring an additional 66,903 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Xencor worth $2,083,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Xencor during the 2nd quarter worth $219,785,000. Primecap Management Co. CA bought a new stake in shares of Xencor in the second quarter worth about $163,919,000. BVF Inc. IL raised its position in shares of Xencor by 160.3% during the fourth quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company's stock worth $109,217,000 after purchasing an additional 4,393,579 shares during the period. RTW Investments LP raised its position in shares of Xencor by 8.9% during the fourth quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company's stock worth $103,763,000 after purchasing an additional 556,407 shares during the period. Finally, State Street Corp lifted its holdings in shares of Xencor by 22.7% during the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company's stock valued at $69,006,000 after purchasing an additional 833,423 shares in the last quarter.

Wall Street Analyst Weigh In

XNCR has been the subject of several research analyst reports. Zacks Research upgraded Xencor from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Cantor Fitzgerald lifted their price target on shares of Xencor from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Raymond James Financial upped their price target on shares of Xencor from $40.00 to $46.00 and gave the company a "strong-buy" rating in a report on Tuesday, September 1st. Truist Financial lowered their price objective on shares of Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Xencor from $14.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.86.

Xencor Price Performance

XNCR opened at $24.41 on Friday. The business has a fifty day simple moving average of $22.03 and a 200 day simple moving average of $15.78. Xencor, Inc. has a 1 year low of $8.26 and a 1 year high of $30.61. The company has a market capitalization of $1.81 billion, a PE ratio of -11.25 and a beta of 0.88.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.51. The firm had revenue of $51.22 million for the quarter, compared to analysts' expectations of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.41) EPS. Equities analysts anticipate that Xencor, Inc. will post -3.05 earnings per share for the current fiscal year.

Xencor 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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