Xencor, Inc. (NASDAQ:XNCR) Shares Sold by State Street Corp

State Street Corp trimmed its holdings in shares of Xencor, Inc. (NASDAQ:XNCR) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,119,290 shares of the biopharmaceutical company’s stock after selling 233,086 shares during the quarter. State Street Corp’s holdings in Xencor were worth $62,729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of XNCR. Quarry LP raised its position in Xencor by 111.4% in the third quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 2,108 shares during the period. RA Capital Management L.P. acquired a new stake in shares of Xencor in the third quarter valued at $11,563,000. Readystate Asset Management LP purchased a new stake in shares of Xencor in the 3rd quarter valued at $1,933,000. RTW Investments LP acquired a new position in Xencor during the 3rd quarter worth about $11,563,000. Finally, Point72 DIFC Ltd boosted its holdings in Xencor by 10.9% during the 3rd quarter. Point72 DIFC Ltd now owns 13,511 shares of the biopharmaceutical company’s stock valued at $272,000 after acquiring an additional 1,333 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on XNCR. Wells Fargo & Company began coverage on shares of Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Royal Bank of Canada lifted 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. Finally, Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Xencor in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $36.56.

Insider Transactions at Xencor

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the sale, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 13.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total value of $80,851.32. Following the completion of the sale, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at approximately $8,469,812.30. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is currently owned by insiders.

Xencor Stock Down 5.2 %

Xencor stock opened at $23.73 on Thursday. The stock’s fifty day moving average is $23.25 and its two-hundred day moving average is $20.66. The stock has a market cap of $1.66 billion, a PE ratio of -7.42 and a beta of 0.69. Xencor, Inc. has a 1-year low of $15.31 and a 1-year high of $27.24. 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) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.27. The firm had revenue of $10.70 million during the quarter, compared to analysts’ expectations 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 revenue was down 81.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) earnings per share. On average, sell-side analysts expect that Xencor, Inc. will post -3.71 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.