Price T Rowe Associates Inc. MD Cuts Stock 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 position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 institutional investors and hedge funds have also made changes to their positions in the stock. Erste Asset Management GmbH boosted its holdings in shares of Xencor by 8.0% during the 1st quarter. Erste Asset Management GmbH now owns 380,200 shares of the biopharmaceutical company's stock worth $4,064,000 after purchasing an additional 28,000 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Xencor in the 1st quarter worth $119,000. Wellington Management Group LLP raised its holdings in shares of Xencor by 8.3% during the 1st quarter. Wellington Management Group LLP now owns 29,776 shares of the biopharmaceutical company's stock worth $317,000 after acquiring an additional 2,285 shares during the period. American Century Companies Inc. raised its holdings in shares of Xencor by 21.9% during the 1st quarter. American Century Companies Inc. now owns 139,242 shares of the biopharmaceutical company's stock worth $1,482,000 after acquiring an additional 25,011 shares during the period. Finally, Aberdeen Group plc boosted its position in shares of Xencor by 114.9% during the 1st quarter. Aberdeen Group plc now owns 377,112 shares of the biopharmaceutical company's stock valued at $4,012,000 after acquiring an additional 201,592 shares during the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on XNCR. 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. Wells Fargo & Company cut their price target on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Barclays decreased 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. Finally, Wedbush cut their target price on Xencor from $31.00 to $26.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.71.

Xencor Stock Up 1.0%

NASDAQ:XNCR traded up $0.08 on Friday, reaching $8.13. The company's stock had a trading volume of 769,384 shares, compared to its average volume of 749,722. Xencor, Inc. has a 12-month low of $6.92 and a 12-month high of $27.24. The firm has a market cap of $579.83 million, a price-to-earnings ratio of -3.39 and a beta of 0.89. The stock has a 50 day moving average price of $8.29 and a 200 day moving average price of $9.87.

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, beating analysts' consensus estimates of ($0.78) by $0.37. The company had revenue of $43.61 million for the quarter, compared to analyst estimates of $22.59 million. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.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 company earned ($1.07) earnings per share. Equities research analysts expect that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling at Xencor

In other Xencor news, Director Richard J. Ranieri sold 2,993 shares of the business'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 value of $27,595.46. Following the sale, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ellen Feigal sold 2,993 shares of the business'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 completion of 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 have sold a total of 11,194 shares of company stock valued at $103,209 over the last quarter. 4.76% of the stock is owned by company insiders.

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.