Price T Rowe Associates Inc. MD Trims Holdings in Xencor, Inc. $XNCR

Key Points

• Price T Rowe Associates Inc. reduced its stake in Xencor, Inc. by 2.6%, now owning approximately 3.93 million shares valued at about $41.8 million.
• Xencor's quarterly revenue increased by 82.4% year-over-year, with reported earnings of ($0.41) per share, beating forecasts.
• Multiple hedge funds, including RTW Investments LP and BVF Inc., significantly increased their holdings in Xencor, indicating a positive sentiment among institutional investors.

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,930,647 shares of the biopharmaceutical company's stock after selling 105,765 shares during the period. Price T Rowe Associates Inc. MD owned about 5.52% of Xencor worth $41,823,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of XNCR. GF Fund Management CO. LTD. acquired a new position in Xencor during the fourth quarter worth $34,000. CWM LLC lifted its holdings 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 acquiring an additional 2,231 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Xencor during the 4th quarter worth $101,000. Tower Research Capital LLC TRC grew its stake in shares of Xencor by 132.5% during the 4th 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 period. Finally, Teza Capital Management LLC acquired a new position in shares of Xencor during the 4th quarter worth $210,000.

Wall Street Analyst Weigh In

Several analysts recently commented on XNCR shares. Royal Bank Of Canada reduced their price objective on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, August 21st. Wedbush reiterated an "outperform" rating and issued a $26.00 price objective on shares of Xencor in a research note on Tuesday. Barclays lowered their price target on Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company lowered their price target on Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.71.

Xencor Price Performance

XNCR traded up $0.42 during midday trading on Tuesday, reaching $8.55. 785,640 shares of the company's stock were exchanged, compared to its average volume of 713,771. The stock has a market capitalization of $609.79 million, a PE ratio of -3.56 and a beta of 0.82. The business's 50-day moving average price is $8.29 and its 200 day moving average price is $9.76. Xencor, Inc. has a 1-year low of $6.92 and a 1-year high of $27.24.

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

Insiders Place Their Bets

In other Xencor news, Director Ellen Feigal sold 2,993 shares of Xencor stock in a transaction dated Monday, June 16th. The shares were 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 in the company, valued at approximately $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 accessible through this link. Also, Director Kurt A. Gustafson sold 2,993 shares of Xencor stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the transaction, the director owned 20,183 shares of the company's stock, 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. Over the last quarter, insiders sold 11,194 shares of company stock worth $103,209. Insiders own 5.23% of the company's stock.

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.