Armistice Capital LLC Sells 136,000 Shares of Xencor, Inc. (NASDAQ:XNCR)

Armistice Capital LLC lowered its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 13.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 864,000 shares of the biopharmaceutical company’s stock after selling 136,000 shares during the period. Armistice Capital LLC owned approximately 1.40% of Xencor worth $16,356,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new position in Xencor during the fourth quarter valued at about $6,909,000. Vanguard Group Inc. increased its position in shares of Xencor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,767,249 shares of the biopharmaceutical company’s stock valued at $143,669,000 after purchasing an additional 115,886 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Xencor in the first quarter valued at $4,608,000. Entropy Technologies LP bought a new position in Xencor in the first quarter worth $573,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Xencor by 9.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after purchasing an additional 335,881 shares during the period.

Analysts Set New Price Targets

Several brokerages have issued reports on XNCR. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Xencor in a report on Tuesday, August 6th. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 price target on shares of Xencor in a research report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wedbush restated an “outperform” rating and set a $34.00 target price on shares of Xencor in a research report on Monday, September 9th. Finally, Raymond James decreased their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating on the stock in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.44.

Insiders Place Their Bets

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the completion of the transaction, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.23% of the company’s stock.

Xencor Price Performance

NASDAQ XNCR opened at $19.76 on Thursday. The stock’s 50 day simple moving average is $18.59 and its 200 day simple moving average is $20.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.92 and a current ratio of 6.92. Xencor, Inc. has a one year low of $15.31 and a one year high of $26.84.

Xencor (NASDAQ:XNCR) last announced its earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.25). Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The business had revenue of $16.96 million for the quarter, compared to the consensus estimate of $21.13 million. During the same quarter in the previous year, the company posted ($0.37) EPS. Xencor’s revenue for the quarter was down 62.7% on a year-over-year basis. Sell-side analysts anticipate that Xencor, Inc. will post -4.15 EPS for the current fiscal 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.