The Manufacturers Life Insurance Company Buys Shares of 49,696 Xencor, Inc. $XNCR

Key Points

• The Manufacturers Life Insurance Company acquired 49,696 Xencor shares worth approximately $800,000, representing a 0.07% stake at the end of the second quarter.
• Several other institutional investors also initiated or expanded Xencor positions, including Tower Research Capital, which increased its holdings by 118.4%.
• Xencor reported better-than-expected quarterly results, with a loss of $0.29 per share versus the $0.80 consensus estimate and revenue of $51.22 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $30.71.

The Manufacturers Life Insurance Company purchased a new stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 49,696 shares of the biopharmaceutical company's stock, valued at approximately $800,000. The Manufacturers Life Insurance Company owned 0.07% of Xencor at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in Xencor by 118.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 3,018 shares in the last quarter. Allworth Financial LP bought a new position in shares of Xencor during the 2nd quarter worth approximately $55,000. E Fund Management Co. Ltd. acquired a new stake in shares of Xencor during the 2nd quarter worth approximately $79,000. iSAM Funds UK Ltd acquired a new stake in shares of Xencor during the 2nd quarter worth approximately $122,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Xencor in the 3rd quarter valued at $139,000.

Xencor Stock Down 0.0%

Shares of Xencor stock opened at $26.61 on Friday. Xencor, Inc. has a 52 week low of $8.19 and a 52 week high of $30.61. The business has a 50 day moving average price of $21.06 and a 200-day moving average price of $15.30. The company has a market cap of $1.98 billion, a PE ratio of -12.26 and a beta of 0.88.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $18.89 million. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. Xencor's quarterly revenue was up 17.4% on a year-over-year basis. As a group, research analysts anticipate that Xencor, Inc. will post -3 EPS for the current year.

Wall Street Analyst Weigh In

XNCR has been the topic of a number of research reports. Raymond James Financial upped their price target on Xencor from $40.00 to $46.00 and gave the stock a "strong-buy" rating in a research note on Tuesday. Truist Financial decreased their price objective on Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Wedbush boosted their price objective on Xencor from $26.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Cantor Fitzgerald upped their target price on Xencor from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Xencor in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Xencor presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

Xencor Company Profile

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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