Jacobs Levy Equity Management Inc. Buys 312,354 Shares of Xencor, Inc. (NASDAQ:XNCR)

Jacobs Levy Equity Management Inc. grew its stake in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 150.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 519,976 shares of the biopharmaceutical company's stock after acquiring an additional 312,354 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.74% of Xencor worth $11,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of XNCR. GAMMA Investing LLC lifted its holdings in shares of Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 508 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,040 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Xencor by 22.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company's stock valued at $162,000 after purchasing an additional 1,282 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Xencor by 49.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 1,337 shares in the last quarter.

Analyst Ratings Changes

XNCR has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Barclays cut their price objective on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a report on Thursday, May 8th. Wedbush reiterated an "outperform" rating and set a $31.00 price objective on shares of Xencor in a report on Wednesday, April 30th. William Blair started coverage on Xencor in a report on Monday, April 21st. They set an "outperform" rating for the company. Finally, StockNews.com lowered Xencor from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.50.

Insiders Place Their Bets

In other news, EVP Nancy Valente sold 4,616 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $11.03, for a total value of $50,914.48. Following the sale, the executive vice president now directly owns 49,169 shares of the company's stock, valued at approximately $542,334.07. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.76% of the company's stock.

Xencor Stock Down 1.7%

Xencor stock traded down $0.14 during mid-day trading on Friday, hitting $8.06. 728,455 shares of the company's stock were exchanged, compared to its average volume of 646,222. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock has a market cap of $573.64 million, a P/E ratio of -2.52 and a beta of 0.99. Xencor, Inc. has a 1-year low of $7.16 and a 1-year high of $27.24. The stock has a 50 day moving average of $10.18 and a two-hundred day moving average of $17.16.

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

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.