Invesco Ltd. Cuts Position in Xencor, Inc. (NASDAQ:XNCR)

Invesco Ltd. lowered its position in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 454,745 shares of the biopharmaceutical company's stock after selling 156,130 shares during the quarter. Invesco Ltd. owned 0.65% of Xencor worth $10,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of XNCR. Finepoint Capital LP bought a new stake in shares of Xencor in the 4th quarter worth approximately $15,167,000. Vanguard Group Inc. grew its stake in Xencor by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company's stock valued at $184,239,000 after buying an additional 418,040 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in Xencor by 21.3% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,092,346 shares of the biopharmaceutical company's stock valued at $25,102,000 after buying an additional 192,080 shares in the last quarter. Geode Capital Management LLC grew its stake in Xencor by 12.3% in the 4th quarter. Geode Capital Management LLC now owns 1,634,876 shares of the biopharmaceutical company's stock valued at $37,578,000 after buying an additional 179,526 shares in the last quarter. Finally, Norges Bank purchased a new position in Xencor in the 4th quarter valued at approximately $3,397,000.

Analyst Ratings Changes

XNCR has been the subject of a number of recent research reports. William Blair initiated coverage on shares of Xencor in a research note on Monday, April 21st. They issued an "outperform" rating for the company. Wells Fargo & Company reduced their price objective on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, StockNews.com lowered shares of Xencor from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.86.

Xencor Price Performance

Shares of XNCR traded up $0.09 during mid-day trading on Monday, reaching $10.60. 388,316 shares of the stock traded hands, compared to its average volume of 627,755. The firm has a fifty day moving average price of $11.66 and a 200 day moving average price of $18.33. The company has a market cap of $754.21 million, a price-to-earnings ratio of -3.31 and a beta of 0.90. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor, Inc. has a 1 year low of $7.16 and a 1 year high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts' consensus estimates of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $52.79 million during the quarter, compared to analyst estimates of $17.14 million. As a group, equities research analysts predict 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.