Xencor, Inc. $XNCR Shares Purchased by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Xencor, Inc. by 861.2%, acquiring an additional 260,124 shares, bringing their total holdings to 290,328 shares valued at $3,089,000.
• Insider trading activity saw Director Ellen Feigal and Director Richard J. Ranieri each sell 2,993 shares, representing a 13.50% decrease in their ownership.
• Xencor recently reported a quarterly revenue of $43.61 million, surpassing analyst expectations, with an EPS of ($0.41), beating the consensus estimate of ($0.78).

Panagora Asset Management Inc. grew its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 861.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 290,328 shares of the biopharmaceutical company's stock after buying an additional 260,124 shares during the quarter. Panagora Asset Management Inc. owned 0.41% of Xencor worth $3,089,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Xencor during the 4th quarter worth $34,000. State of Wyoming purchased a new stake in shares of Xencor during the 1st quarter worth $34,000. CWM LLC raised its stake in Xencor by 195.5% in the first quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 2,231 shares during the last quarter. AlphaQuest LLC purchased a new stake in Xencor in the first quarter valued at about $56,000. Finally, Mackenzie Financial Corp purchased a new stake in Xencor in the fourth quarter valued at about $101,000.

Insider Transactions at Xencor

In other news, Director Ellen Feigal sold 2,993 shares of Xencor stock in a transaction that occurred 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kurt A. Gustafson sold 2,993 shares of Xencor stock in a transaction that occurred 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 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. Insiders have sold 11,194 shares of company stock valued at $103,209 over the last ninety days. Insiders own 4.76% of the company's stock.

Xencor Trading Up 0.5%

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 731,012. Xencor, Inc. has a twelve month low of $6.92 and a twelve month high of $27.24. The business's fifty day simple moving average is $8.28 and its 200 day simple moving average is $9.69. The firm has a market capitalization of $596.95 million, a price-to-earnings ratio of -3.49 and a beta of 0.82.

Xencor (NASDAQ:XNCR - Get Free Report) last issued 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 return on equity of 25.75% and a negative net margin of 121.52%.The company had revenue of $43.61 million for the quarter, compared to analyst estimates of $22.59 million. During the same period last year, the company earned ($1.07) earnings per share. Xencor's quarterly revenue was up 82.4% compared to the same quarter last year. As a group, equities research analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Xencor Company 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.