Jacobs Levy Equity Management Inc. Acquires 384,509 Shares of Xencor, Inc. $XNCR

Jacobs Levy Equity Management Inc. raised its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 73.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 904,485 shares of the biopharmaceutical company's stock after buying an additional 384,509 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.27% of Xencor worth $9,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XNCR. GF Fund Management CO. LTD. acquired a new position in Xencor in the 4th quarter valued at $34,000. State of Wyoming bought a new stake in shares of Xencor during the 1st quarter valued at $34,000. CWM LLC lifted its position in shares of Xencor by 195.5% during the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 2,231 shares during the period. AlphaQuest LLC bought a new stake in shares of Xencor during the 1st quarter valued at $56,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Xencor during the 4th quarter valued at $101,000.

Analysts Set New Price Targets

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

Xencor Stock Performance

Xencor stock traded up $0.05 during midday trading on Wednesday, hitting $8.36. 986,482 shares of the company's stock were exchanged, compared to its average volume of 683,247. Xencor, Inc. has a 52-week low of $6.92 and a 52-week high of $27.24. The stock has a 50-day moving average price of $8.31 and a two-hundred day moving average price of $9.48. The company has a market cap of $596.24 million, a P/E ratio of -3.48 and a beta of 0.82.

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

Insider Activity

In other Xencor news, Director Ellen Feigal sold 2,993 shares of the company'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 completion of the transaction, the director owned 19,183 shares of the company's stock, valued at $176,867.26. This represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard J. Ranieri sold 2,993 shares of the company'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 value of $27,595.46. Following the transaction, the director directly owned 19,183 shares of the company's stock, valued at $176,867.26. The trade was a 13.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,194 shares of company stock valued at $103,209. Insiders own 4.76% of the company's stock.

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.