Xencor, Inc. $XNCR Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America purchased 360,396 Xencor shares in the second quarter, valued at approximately $5.8 million and representing 0.48% of the company.
• Institutional interest increased, with BlackRock and Primecap Management initiating sizable positions, while BVF expanded its stake by 160.3%.
• Xencor reported a quarterly loss of $0.29 per share, beating estimates of a $0.80 loss, while revenue rose 17.4% year over year to $51.22 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $31.12.

Bank of America Corp DE bought a new stake in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 360,396 shares of the biopharmaceutical company's stock, valued at approximately $5,802,000. Bank of America Corp DE owned 0.48% of Xencor as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Xencor in the second quarter worth $219,785,000. Primecap Management Co. CA bought a new stake in shares of Xencor during the second quarter valued at about $163,919,000. BVF Inc. IL lifted its holdings in Xencor by 160.3% in the fourth quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company's stock worth $109,217,000 after purchasing an additional 4,393,579 shares during the period. Legal & General Group Plc grew its position in Xencor by 2.8% in the 4th quarter. Legal & General Group Plc now owns 1,308,088 shares of the biopharmaceutical company's stock valued at $20,027,000 after buying an additional 35,088 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Xencor by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company's stock valued at $15,613,000 after buying an additional 45,599 shares in the last quarter.

Xencor Price Performance

Xencor stock opened at $23.80 on Monday. The firm's 50 day simple moving average is $23.78 and its 200-day simple moving average is $16.66. The company has a market cap of $1.77 billion, a P/E ratio of -10.97 and a beta of 0.88. Xencor, Inc. has a fifty-two week low of $10.38 and a fifty-two week high of $30.61.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping 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%. The company's revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.41) EPS. On average, analysts expect that Xencor, Inc. will post -3.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

XNCR has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their price objective on shares of Xencor from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $14.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, September 3rd. Bank of America raised their target price on shares of Xencor from $20.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, September 21st. Barclays lifted their price target on shares of Xencor from $27.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, September 11th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xencor in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $31.12.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company's platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor's proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.

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