ProShare Advisors LLC Trims Stock Position in Xencor, Inc. (NASDAQ:XNCR)

ProShare Advisors LLC decreased its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,805 shares of the biopharmaceutical company’s stock after selling 3,231 shares during the quarter. ProShare Advisors LLC’s holdings in Xencor were worth $242,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in XNCR. Primecap Management Co. CA grew its stake in Xencor by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after buying an additional 25,495 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Xencor by 3.6% in the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock valued at $155,154,000 after acquiring an additional 243,793 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Xencor by 9.6% during 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 acquiring an additional 335,881 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Xencor by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock valued at $27,628,000 after purchasing an additional 87,979 shares during the last quarter. Finally, Darwin Global Management Ltd. acquired a new position in Xencor in the first quarter valued at $24,557,000.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 target price on shares of Xencor in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Raymond James cut their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $34.00 price objective on shares of Xencor in a research report on Monday, September 9th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.78.

Insider Transactions at Xencor

In related news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.23% of the company’s stock.

Xencor Price Performance

Xencor stock opened at $19.85 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of -9.06 and a beta of 0.67. Xencor, Inc. has a one year low of $15.31 and a one year high of $26.84. The business has a fifty day moving average of $18.55 and a two-hundred day moving average of $20.23. 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 (NASDAQ:XNCR) last announced its quarterly earnings data 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 net margin of 132.74% and a negative return on equity of 28.23%. The company had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. During the same quarter last year, the business earned ($0.37) EPS. The firm’s revenue for the quarter was down 62.7% on a year-over-year basis. As a group, analysts predict that Xencor, Inc. will post -4.15 earnings per share 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.