Two Sigma Investments LP Trims Position in Xencor, Inc. (NASDAQ:XNCR)

Two Sigma Investments LP reduced its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 36.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 297,223 shares of the biopharmaceutical company's stock after selling 172,614 shares during the quarter. Two Sigma Investments LP owned 0.42% of Xencor worth $6,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Xencor by 100.7% in the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company's stock worth $3,128,000 after buying an additional 78,066 shares during the period. KBC Group NV lifted its position in Xencor by 26.0% in the fourth quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company's stock valued at $90,000 after purchasing an additional 813 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Xencor by 24.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 14,839 shares of the biopharmaceutical company's stock valued at $341,000 after purchasing an additional 2,946 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Xencor by 10.2% in the fourth quarter. Yousif Capital Management LLC now owns 20,976 shares of the biopharmaceutical company's stock worth $482,000 after purchasing an additional 1,944 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Xencor by 12.7% in the fourth quarter. State of Alaska Department of Revenue now owns 39,773 shares of the biopharmaceutical company's stock worth $913,000 after buying an additional 4,487 shares during the period.

Wall Street Analysts Forecast Growth

XNCR has been the topic of several research analyst reports. William Blair initiated coverage on Xencor in a research note on Monday, April 21st. They set an "outperform" rating on the stock. Barclays reduced their target price on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a research report on Thursday, May 8th. Wells Fargo & Company lowered their price target on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Wall Street Zen lowered shares of Xencor from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Finally, Wedbush reaffirmed an "outperform" rating and set a $31.00 target price on shares of Xencor in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.50.

Xencor Stock Down 0.6%

Shares of XNCR traded down $0.05 on Friday, hitting $7.70. 201,267 shares of the stock traded hands, compared to its average volume of 658,105. Xencor, Inc. has a one year low of $7.16 and a one year high of $27.24. The company has a market capitalization of $547.66 million, a PE ratio of -2.42 and a beta of 0.99. The business has a 50 day simple moving average of $9.23 and a 200 day simple moving average of $16.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.06). Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business had revenue of $32.73 million for the quarter, compared to the consensus estimate of $23.44 million. During the same period in the previous year, the company earned ($1.11) earnings per share. The company's revenue for the quarter was up 104.6% compared to the same quarter last year. As a group, equities analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Xencor

In other news, EVP Nancy Valente sold 4,616 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $11.03, for a total transaction of $50,914.48. Following the completion of the transaction, the executive vice president now directly owns 49,169 shares of the company's stock, valued at $542,334.07. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.76% of the company's stock.

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.