Seven Fleet Capital Management LP Has $5.93 Million Stake in Xencor, Inc. $XNCR

Key Points

• Seven Fleet Capital Management increased its Xencor stake by 360.4% in the second quarter, ending with 368,305 shares valued at approximately $5.93 million, or 0.50% of Xencor.
• Institutional interest strengthened broadly, with UBS Asset Management, Susquehanna International Group, HSBC and others also increasing their positions in XNCR.
• Analysts hold a consensus “Moderate Buy” rating with a $30.71 target price. Xencor also beat quarterly EPS and revenue estimates, reporting a loss of $0.29 per share and $51.22 million in revenue.

Seven Fleet Capital Management LP grew its holdings in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 360.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 368,305 shares of the biopharmaceutical company's stock after purchasing an additional 288,305 shares during the quarter. Xencor comprises about 1.0% of Seven Fleet Capital Management LP's investment portfolio, making the stock its 22nd largest position. Seven Fleet Capital Management LP owned 0.50% of Xencor worth $5,930,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in XNCR. AXQ Capital LP acquired a new stake in shares of Xencor in the second quarter valued at $261,000. Velan Capital Investment Management LP lifted its position in Xencor by 2.0% during the 2nd quarter. Velan Capital Investment Management LP now owns 255,000 shares of the biopharmaceutical company's stock worth $4,106,000 after buying an additional 5,000 shares in the last quarter. Susquehanna International Group LLP grew its holdings in Xencor by 58.4% during the 2nd quarter. Susquehanna International Group LLP now owns 44,403 shares of the biopharmaceutical company's stock worth $715,000 after acquiring an additional 16,364 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Xencor by 214.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 382,094 shares of the biopharmaceutical company's stock valued at $6,152,000 after acquiring an additional 260,752 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Xencor by 114.2% in the second quarter. Hsbc Holdings PLC now owns 125,482 shares of the biopharmaceutical company's stock worth $2,083,000 after acquiring an additional 66,903 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on XNCR shares. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Raymond James Financial raised their price target on shares of Xencor from $40.00 to $46.00 and gave the company a "strong-buy" rating in a report on Tuesday. Wedbush upped their price objective on Xencor from $26.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Truist Financial decreased their price objective on Xencor from $29.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald lifted their target price on Xencor from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Xencor Stock Performance

XNCR opened at $26.61 on Friday. The company has a fifty day moving average price of $21.06 and a two-hundred day moving average price of $15.30. The firm has a market capitalization of $1.98 billion, a PE ratio of -12.26 and a beta of 0.88. Xencor, Inc. has a 52 week low of $8.19 and a 52 week high of $30.61.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. During the same quarter in the prior year, the business posted ($0.41) EPS. The firm's quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts forecast that Xencor, Inc. will post -3 EPS for the current year.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor's research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.

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