Point72 Asset Management L.P. Reduces Position in Xencor, Inc. (NASDAQ:XNCR)

Point72 Asset Management L.P. lessened its holdings in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,177,081 shares of the biopharmaceutical company's stock after selling 943,148 shares during the period. Point72 Asset Management L.P. owned 3.11% of Xencor worth $50,029,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in shares of Xencor by 100.7% during the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company's stock worth $3,128,000 after buying an additional 78,066 shares during the period. Prudential Financial Inc. grew its stake in Xencor by 10.7% in the fourth quarter. Prudential Financial Inc. now owns 70,715 shares of the biopharmaceutical company's stock valued at $1,625,000 after acquiring an additional 6,810 shares during the period. Wellington Management Group LLP acquired a new position in shares of Xencor during the fourth quarter worth approximately $632,000. Raymond James Financial Inc. bought a new position in shares of Xencor in the 4th quarter worth $2,329,000. Finally, Principal Financial Group Inc. increased its stake in Xencor by 16.5% during the 4th quarter. Principal Financial Group Inc. now owns 340,145 shares of the biopharmaceutical company's stock valued at $7,817,000 after purchasing an additional 48,229 shares in the last quarter.

Wall Street Analyst Weigh In

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

Xencor Stock Performance

Shares of XNCR stock traded down $0.36 during trading on Wednesday, reaching $7.79. 378,303 shares of the company's stock traded hands, compared to its average volume of 647,347. The firm's 50-day moving average is $9.99 and its 200 day moving average is $17.00. The company has a market capitalization of $554.07 million, a P/E ratio of -2.43 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 company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.06). The company had revenue of $32.73 million for the quarter, compared to analysts' expectations 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 revenue was up 104.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.11) EPS. Equities research analysts expect that Xencor, Inc. will post -3.68 EPS for the current year.

Insiders Place Their Bets

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

Xencor 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.