Rafferty Asset Management LLC Has $923,000 Stock Holdings in Xencor, Inc. $XNCR

Key Points

• Rafferty Asset Management LLC increased its stake in Xencor, Inc. by 66.9% in Q1, acquiring an additional 34,765 shares to own a total of 86,741 shares valued at approximately $923,000.
• Several other hedge funds have also recently invested in Xencor, with notable increases from CWM LLC and GAMMA Investing LLC, showcasing growing interest in the company's stock.
• Analyst ratings have varied, with price targets for Xencor being cut by various brokerage firms, leading to an average price target of $23.71 amid a consensus rating of "Moderate Buy."

Rafferty Asset Management LLC raised its stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 66.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 86,741 shares of the biopharmaceutical company's stock after buying an additional 34,765 shares during the quarter. Rafferty Asset Management LLC owned about 0.12% of Xencor worth $923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RTW Investments LP raised its stake in Xencor by 317.9% in the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company's stock valued at $55,218,000 after purchasing an additional 1,827,883 shares in the last quarter. Primecap Management Co. CA grew its stake in Xencor by 8.6% in the 1st quarter. Primecap Management Co. CA now owns 9,761,012 shares of the biopharmaceutical company's stock valued at $103,857,000 after purchasing an additional 776,580 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Xencor by 452.4% during the 4th quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company's stock worth $19,236,000 after acquiring an additional 685,557 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Xencor by 150.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 519,976 shares of the biopharmaceutical company's stock worth $11,949,000 after purchasing an additional 312,354 shares during the period. Finally, Aberdeen Group plc raised its holdings in shares of Xencor by 114.9% in 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 in the last quarter.

Insider Activity at Xencor

In other Xencor news, Director Richard J. Ranieri 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 transaction of $27,595.46. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen Feigal sold 2,993 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.22, for a total transaction of $27,595.46. Following the sale, the director directly owned 19,183 shares in the company, valued at $176,867.26. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,194 shares of company stock worth $103,209. 5.23% of the stock is owned by corporate insiders.

Xencor Price Performance

Shares of XNCR stock traded down $0.22 during midday trading on Wednesday, reaching $8.33. 830,110 shares of the company traded hands, compared to its average volume of 713,771. The firm's 50 day simple moving average is $8.28 and its two-hundred day simple moving average is $9.75. Xencor, Inc. has a 1-year low of $6.92 and a 1-year high of $27.24. The firm has a market cap of $594.10 million, a PE ratio of -3.47 and a beta of 0.82.

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

Wall Street Analyst Weigh In

XNCR has been the topic of several research reports. Bank of America lowered Xencor from a "buy" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $12.00 in a research report on Wednesday. Wedbush reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of Xencor in a research note on Tuesday. Wells Fargo & Company dropped their price objective on Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Barclays lowered their price target on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada cut their price objective 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.25.

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.