Russell Investments Group Ltd. Has $369,000 Position in Xencor, Inc. $XNCR

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Xencor, Inc. by 84% in the first quarter, leaving them with just 34,708 shares valued at $369,000 after selling 181,583 shares.
• In the same quarter, other hedge funds have increased their investments in Xencor, with Invesco Ltd. raising its stake by 44.3%, now owning 656,201 shares valued at $6,982,000.
• Analyst ratings for Xencor's stock have been mixed, with Barclays and Wells Fargo both cutting their price targets significantly, while consensus ratings suggest a "Moderate Buy" with a target price of $23.71.

Russell Investments Group Ltd. lessened its holdings in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 84.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,708 shares of the biopharmaceutical company's stock after selling 181,583 shares during the quarter. Russell Investments Group Ltd.'s holdings in Xencor were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in Xencor in the 4th quarter worth approximately $34,000. CWM LLC boosted its holdings in Xencor by 195.5% in the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 2,231 shares during the period. Mackenzie Financial Corp purchased a new stake in Xencor in the 4th quarter worth $101,000. Tower Research Capital LLC TRC lifted its stake in Xencor by 132.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,865 shares of the biopharmaceutical company's stock worth $181,000 after purchasing an additional 4,482 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Xencor in the 4th quarter worth $210,000.

Wall Street Analyst Weigh In

XNCR has been the topic of a number of recent analyst reports. Bank of America lowered shares of Xencor from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $12.00 in a research report on Wednesday. Barclays reduced their target price on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a report on Thursday, May 8th. Royal Bank Of Canada reduced their target price on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 21st. Wells Fargo & Company dropped their price target on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Wedbush reissued an "outperform" rating and issued a $26.00 price target on shares of Xencor in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.25.

Insiders Place Their Bets

In other Xencor news, Director Ellen Feigal sold 2,993 shares of Xencor stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the transaction, the director owned 19,183 shares of the company's stock, valued at $176,867.26. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kurt A. Gustafson 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 completion of the sale, the director directly owned 20,183 shares of the company's stock, valued at approximately $186,087.26. The trade was a 12.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,194 shares of company stock worth $103,209. Company insiders own 4.76% of the company's stock.

Xencor Stock Up 1.6%

Shares of XNCR stock traded up $0.14 during trading hours on Friday, hitting $8.51. 88,238 shares of the company were exchanged, compared to its average volume of 759,919. Xencor, Inc. has a 1 year low of $6.92 and a 1 year high of $27.24. The firm has a fifty day moving average of $8.28 and a 200 day moving average of $9.69. The firm has a market cap of $606.65 million, a PE ratio of -3.53 and a beta of 0.82.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping 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 firm had revenue of $43.61 million for the quarter, compared to analysts' expectations of $22.59 million. During the same period in the previous year, the business earned ($1.07) earnings per share. Xencor's revenue for the quarter was up 82.4% compared to the same quarter last year. Analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current year.

Xencor Company Profile

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.