Xencor, Inc. $XNCR Stock Position Reduced by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Xencor, Inc. by 1.5%, owning a total of 7,898,466 shares worth approximately $84 million after selling 118,900 shares in the first quarter.
• Recent analyst reports have led to significant target price adjustments for Xencor, with estimates ranging from $6.00 to $27.00, reflecting mixed sentiments on the stock.
• Xencor reported earnings per share of ($0.41), outperforming estimates by $0.37, with revenue growth of 82.4% year-over-year, highlighting strong performance despite overall losses.

Vanguard Group Inc. reduced its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,898,466 shares of the biopharmaceutical company's stock after selling 118,900 shares during the quarter. Vanguard Group Inc. owned about 11.10% of Xencor worth $84,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Xencor by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,036,412 shares of the biopharmaceutical company's stock valued at $92,758,000 after acquiring an additional 107,350 shares in the last quarter. TCG Crossover Management LLC lifted its holdings in shares of Xencor by 1.0% during the 4th quarter. TCG Crossover Management LLC now owns 2,452,138 shares of the biopharmaceutical company's stock valued at $56,350,000 after acquiring an additional 25,000 shares in the last quarter. RTW Investments LP lifted its holdings in shares of Xencor by 317.9% during the 4th quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company's stock valued at $55,218,000 after acquiring an additional 1,827,883 shares in the last quarter. BVF Inc. IL lifted its holdings in shares of Xencor by 169.3% during the 4th quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company's stock valued at $52,596,000 after acquiring an additional 1,438,760 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Xencor by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,532 shares of the biopharmaceutical company's stock valued at $34,509,000 after acquiring an additional 102,297 shares in the last quarter.

Insider Buying and Selling

In related news, 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 sale, the director directly owned 19,183 shares in the company, valued at $176,867.26. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kurt A. Gustafson 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 transaction of $27,595.46. Following the completion of the sale, the director owned 20,183 shares in the company, valued at $186,087.26. The trade was a 12.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,194 shares of company stock worth $103,209 in the last ninety days. 5.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on XNCR shares. Wells Fargo & Company reduced their target price on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Barclays cut their price objective on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a report on Thursday, May 8th. Wedbush decreased their price objective on shares of Xencor from $31.00 to $26.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Royal Bank Of Canada cut their target price on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, August 21st. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.71.

Xencor Stock Performance

Shares of NASDAQ:XNCR traded up $0.12 during trading hours on Wednesday, hitting $8.02. The stock had a trading volume of 1,251,420 shares, compared to its average volume of 764,796. The stock's fifty day simple moving average is $8.31 and its 200 day simple moving average is $10.04. Xencor, Inc. has a 1-year low of $6.92 and a 1-year high of $27.24. The firm has a market capitalization of $571.99 million, a price-to-earnings ratio of -3.34 and a beta of 0.89.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $22.59 million. During the same period last year, the firm posted ($1.07) earnings per share. The business's revenue was up 82.4% on a year-over-year basis. As a group, research analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current year.

About Xencor

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.