Public Sector Pension Investment Board Grows Stock Holdings in Xencor, Inc. $XNCR

Key Points

• The Public Sector Pension Investment Board increased its stake in Xencor, Inc. by 27.3%, owning approximately 221,971 shares worth around $2.36 million at the end of the first quarter.
• In its latest quarterly earnings, Xencor reported an EPS of ($0.41), surpassing estimates, with revenues of $43.61 million, marking an 82.4% increase year-over-year.
• Analysts have mixed views on Xencor's stock; while Wells Fargo downgraded its price target to $27.00, seven analysts still rate it as a Buy, reflecting a consensus price target of $26.43.

Public Sector Pension Investment Board lifted its position in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 221,971 shares of the biopharmaceutical company's stock after buying an additional 47,662 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.31% of Xencor worth $2,362,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. RTW Investments LP grew its stake in Xencor by 317.9% during the fourth 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 grew its stake in Xencor by 169.3% during the fourth 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. Primecap Management Co. CA grew its stake in Xencor by 8.6% during the first quarter. Primecap Management Co. CA now owns 9,761,012 shares of the biopharmaceutical company's stock valued at $103,857,000 after acquiring an additional 776,580 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Xencor by 452.4% during the fourth quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company's stock valued at $19,236,000 after acquiring an additional 685,557 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Xencor by 150.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 519,976 shares of the biopharmaceutical company's stock valued at $11,949,000 after acquiring an additional 312,354 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on XNCR shares. Barclays dropped their price objective on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research note on Thursday, May 8th. Wedbush dropped their price objective on shares of Xencor from $31.00 to $26.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Royal Bank Of Canada dropped their price objective on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company dropped their price objective on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.71.

Xencor Trading Up 13.0%

Shares of XNCR stock traded up $0.97 during trading hours on Friday, reaching $8.41. 1,066,171 shares of the stock were exchanged, compared to its average volume of 689,281. Xencor, Inc. has a 12-month low of $6.92 and a 12-month high of $27.24. The company's 50-day moving average price is $8.34 and its 200-day moving average price is $10.22. The firm has a market capitalization of $599.80 million, a price-to-earnings ratio of -3.50 and a beta of 0.89.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $43.61 million during the quarter, compared to analyst estimates of $22.59 million. During the same quarter last year, the business posted ($1.07) EPS. The firm's revenue for the quarter was up 82.4% on a year-over-year basis. On average, sell-side analysts expect that Xencor, Inc. will post -3.68 EPS for the current year.

Insider Activity at Xencor

In other news, Director Richard J. Ranieri sold 2,993 shares of the business's stock in a transaction dated 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 owned 19,183 shares in the company, valued at approximately $176,867.26. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the transaction, the director owned 20,183 shares of the company's stock, valued at approximately $186,087.26. This trade represents a 12.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,194 shares of company stock worth $103,209 in the last 90 days. 4.76% of the stock is owned by corporate insiders.

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.