Xencor, Inc. $XNCR Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in Xencor, Inc. by 44.3% during the first quarter, now owning approximately 0.92% of the company, valued at nearly $7 million.
• Several large investors have modified their stakes in Xencor, with US Bancorp DE boosting its holdings by 312.0%, while Barclays set a significantly lower target price of $6.00 with an "underweight" rating.
• Xencor saw a positive earnings report with a decrease in losses, posting earnings of ($0.41) per share, which beat projections, alongside a revenue increase of 82.4% year-over-year.

Invesco Ltd. grew its holdings in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 44.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 656,201 shares of the biopharmaceutical company's stock after buying an additional 201,456 shares during the period. Invesco Ltd. owned 0.92% of Xencor worth $6,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of XNCR. Wells Fargo & Company MN raised its position in shares of Xencor by 50.7% in the fourth quarter. Wells Fargo & Company MN now owns 36,086 shares of the biopharmaceutical company's stock valued at $829,000 after buying an additional 12,144 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Xencor in the fourth quarter valued at about $2,329,000. Dimensional Fund Advisors LP raised its position in shares of Xencor by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,532 shares of the biopharmaceutical company's stock valued at $34,509,000 after buying an additional 102,297 shares during the last quarter. MetLife Investment Management LLC increased its position in Xencor by 16.9% during the fourth quarter. MetLife Investment Management LLC now owns 40,740 shares of the biopharmaceutical company's stock worth $936,000 after purchasing an additional 5,888 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased 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 worth $181,000 after purchasing an additional 4,482 shares during the last quarter.

Xencor Stock Up 1.0%

XNCR stock traded up $0.08 during mid-day trading on Friday, hitting $8.13. 769,384 shares of the company were exchanged, compared to its average volume of 749,722. The firm has a market capitalization of $579.83 million, a P/E ratio of -3.39 and a beta of 0.89. The business has a fifty day simple moving average of $8.29 and a 200-day simple moving average of $9.91. 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 posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, beating 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 business had revenue of $43.61 million during the quarter, compared to analyst estimates of $22.59 million. During the same quarter last year, the firm posted ($1.07) earnings per share. The business's revenue for the quarter was up 82.4% compared to the same quarter last year. Research analysts predict that Xencor, Inc. will post -3.68 EPS for the current year.

Insider Buying and Selling

In other Xencor news, Director Kurt A. Gustafson sold 2,993 shares of the firm's stock in a transaction that occurred 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 20,183 shares of the company's stock, valued at approximately $186,087.26. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Ranieri sold 2,993 shares of the firm's stock in a transaction that occurred 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 19,183 shares in the company, valued at approximately $176,867.26. The trade was a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,194 shares of company stock worth $103,209 over the last 90 days. 4.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on XNCR shares. Royal Bank Of Canada cut their price objective 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. Wedbush cut their price objective on shares of Xencor from $31.00 to $26.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company cut their price objective 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, Barclays cut 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. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.