Point72 Asset Management L.P. Sells 943,148 Shares of Xencor, Inc. (NASDAQ:XNCR)

Point72 Asset Management L.P. cut its holdings in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,177,081 shares of the biopharmaceutical company's stock after selling 943,148 shares during the quarter. Point72 Asset Management L.P. owned approximately 3.11% of Xencor worth $50,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Barclays PLC lifted its holdings in Xencor by 100.7% in the 3rd 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. raised its holdings in shares of Xencor by 10.7% during 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 in the last quarter. Wellington Management Group LLP bought a new position in shares of Xencor during the fourth quarter valued at approximately $632,000. Raymond James Financial Inc. purchased a new stake in Xencor in the fourth quarter worth $2,329,000. Finally, Principal Financial Group Inc. lifted its stake in Xencor by 16.5% in the fourth quarter. Principal Financial Group Inc. now owns 340,145 shares of the biopharmaceutical company's stock worth $7,817,000 after acquiring an additional 48,229 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Barclays reduced their price target on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a research report on Thursday, May 8th. Wedbush restated an "outperform" rating and issued a $31.00 price objective on shares of Xencor in a report on Wednesday, April 30th. William Blair began coverage on Xencor in a report on Monday, April 21st. They set an "outperform" rating on the stock. Finally, StockNews.com lowered Xencor from a "hold" rating to a "sell" rating in a research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.50.

Insider Buying and Selling at Xencor

In other news, EVP Nancy Valente sold 4,616 shares of the stock in a transaction on 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 represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.76% of the stock is owned by company insiders.

Xencor Stock Performance

XNCR remained flat at $8.06 during midday trading on Monday. 728,954 shares of the company's stock were exchanged, compared to its average volume of 646,631. Xencor, Inc. has a twelve month low of $7.16 and a twelve month high of $27.24. The company's 50-day simple moving average is $10.08 and its 200-day simple moving average is $17.06. The company has a market capitalization of $573.64 million, a price-to-earnings ratio of -2.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

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

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.