Victory Capital Management Inc. Trims Holdings in Xencor, Inc. (NASDAQ:XNCR)

Victory Capital Management Inc. lessened its position in Xencor, Inc. (NASDAQ:XNCR) by 11.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,655 shares of the biopharmaceutical company’s stock after selling 1,549 shares during the period. Victory Capital Management Inc.’s holdings in Xencor were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA lifted its stake in shares of Xencor by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 shares during the period. Vanguard Group Inc. lifted its stake in shares of Xencor by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock worth $155,154,000 after acquiring an additional 243,793 shares during the period. Logos Global Management LP lifted its stake in shares of Xencor by 130.8% in the 2nd quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after acquiring an additional 850,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Xencor by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after acquiring an additional 87,979 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in shares of Xencor by 52.9% in the second quarter. Point72 Asset Management L.P. now owns 1,261,789 shares of the biopharmaceutical company’s stock valued at $23,886,000 after purchasing an additional 436,389 shares during the period.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the transaction, the vice president now owns 200,104 shares in the company, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total value of $1,186,121.46. Following the completion of the transaction, the chief executive officer now owns 352,615 shares in the company, valued at $8,487,443.05. This represents a 12.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,328 shares of company stock worth $2,879,673. Insiders own 5.23% of the company’s stock.

Xencor Price Performance

XNCR stock opened at $25.60 on Friday. 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, Inc. has a one year low of $15.31 and a one year high of $26.84. The firm has a market capitalization of $1.79 billion, a PE ratio of -8.00 and a beta of 0.66. The firm has a 50-day moving average of $21.93 and a two-hundred day moving average of $20.51.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The firm’s quarterly revenue was down 81.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, analysts forecast that Xencor, Inc. will post -3.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets restated an “outperform” rating and set a $34.00 target price (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Xencor presently has a consensus rating of “Moderate Buy” and an average target price of $35.75.

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.