UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 260,752 Shares of Xencor, Inc. $XNCR

Key Points

• UBS Asset Management increased its Xencor stake by 214.9% in the second quarter, purchasing 260,752 additional shares to own 382,094 shares valued at approximately $6.15 million.
• Analyst sentiment is broadly positive, with Xencor holding a consensus “Moderate Buy” rating and an average price target of $30.71, despite mixed individual recommendations.
• Xencor reported better-than-expected quarterly results, posting an adjusted loss of $0.29 per share versus estimates of $0.80 and revenue of $51.22 million, up 17.4% year over year.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 214.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 382,094 shares of the biopharmaceutical company's stock after buying an additional 260,752 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.51% of Xencor worth $6,152,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of 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 acquiring an additional 3,018 shares during the period. Allworth Financial LP bought a new stake in Xencor during the 2nd quarter valued at approximately $55,000. E Fund Management Co. Ltd. purchased a new position in Xencor in the 2nd quarter worth approximately $79,000. iSAM Funds UK Ltd purchased a new position in Xencor in the 2nd quarter worth approximately $122,000. Finally, Prelude Capital Management LLC bought a new position in Xencor in the 3rd quarter worth approximately $139,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on XNCR. JPMorgan Chase & Co. increased their price objective on shares of Xencor from $14.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial dropped their target price on shares of Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Zacks Research raised shares of Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 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 given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Xencor Price Performance

NASDAQ:XNCR opened at $25.33 on Wednesday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -11.67 and a beta of 0.88. Xencor, Inc. has a 1 year low of $8.25 and a 1 year high of $30.61. The stock's 50 day simple moving average is $21.47 and its two-hundred day simple moving average is $15.53.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its 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. The firm had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. Xencor's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) earnings per share. As a group, analysts anticipate that Xencor, Inc. will post -3 EPS for the current year.

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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