Nantahala Capital Management LLC Makes New $4.86 Million Investment in Xencor, Inc. $XNCR

Key Points

• Nantahala Capital Management LLC acquired 456,741 shares of Xencor, Inc., valued at approximately $4.86 million, representing a 0.64% ownership stake in the company by the end of the reporting period.
• Two directors, Kurt A. Gustafson and Ellen Feigal, sold 2,993 shares each at an average price of $9.22, decreasing their ownership by 12.91% and 13.50%, respectively.
• Xencor reported a quarterly revenue of $43.61 million, significantly exceeding analyst estimates of $22.59 million, and had a negative earnings per share of ($0.41), better than the consensus estimate of ($0.78).

Nantahala Capital Management LLC acquired a new stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 456,741 shares of the biopharmaceutical company's stock, valued at approximately $4,860,000. Nantahala Capital Management LLC owned approximately 0.64% of Xencor at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Xencor by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 348,726 shares of the biopharmaceutical company's stock worth $3,710,000 after acquiring an additional 8,581 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Xencor by 44.3% during the 1st quarter. Invesco Ltd. now owns 656,201 shares of the biopharmaceutical company's stock worth $6,982,000 after acquiring an additional 201,456 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Xencor by 53.1% during the 4th quarter. Deutsche Bank AG now owns 58,041 shares of the biopharmaceutical company's stock worth $1,334,000 after acquiring an additional 20,128 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Xencor by 19.3% during the 4th quarter. Northern Trust Corp now owns 747,152 shares of the biopharmaceutical company's stock worth $17,170,000 after acquiring an additional 120,655 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Xencor by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,532 shares of the biopharmaceutical company's stock worth $34,509,000 after acquiring an additional 102,297 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on XNCR. Bank of America lowered Xencor from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $23.00 to $12.00 in a research note on Wednesday. Wells Fargo & Company decreased their price target on Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Barclays reduced their target price on Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a research note on Thursday, May 8th. Wedbush reissued an "outperform" rating and issued a $26.00 price target on shares of Xencor in a report on Tuesday. Finally, Royal Bank Of Canada decreased their price objective on Xencor from $32.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, August 21st. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.25.

Xencor Price Performance

XNCR traded up $0.04 during trading on Thursday, hitting $8.37. The company's stock had a trading volume of 870,106 shares, compared to its average volume of 764,094. The firm's 50 day moving average price is $8.28 and its 200-day moving average price is $9.75. The stock has a market cap of $596.95 million, a PE ratio of -3.49 and a beta of 0.82. Xencor, Inc. has a twelve month low of $6.92 and a twelve month high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings results 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 return on equity of 25.75% and a negative net margin of 121.52%.The company had revenue of $43.61 million during the quarter, compared to analysts' expectations of $22.59 million. During the same quarter in the previous year, the business earned ($1.07) EPS. The firm's revenue was up 82.4% on a year-over-year basis. Equities analysts anticipate that Xencor, Inc. will post -3.68 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ellen Feigal 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Ranieri sold 2,993 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the sale, the director directly owned 19,183 shares of the company's stock, valued at approximately $176,867.26. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,194 shares of company stock valued at $103,209. Insiders own 5.23% 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.