Logos Global Management LP Boosts Stock Position in Xencor, Inc. (NASDAQ:XNCR)

Logos Global Management LP raised its stake in Xencor, Inc. (NASDAQ:XNCR) by 130.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,500,000 shares of the biopharmaceutical company’s stock after buying an additional 850,000 shares during the quarter. Xencor accounts for 2.3% of Logos Global Management LP’s investment portfolio, making the stock its 14th biggest holding. Logos Global Management LP’s holdings in Xencor were worth $28,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Xencor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,698 shares of the biopharmaceutical company’s stock worth $11,054,000 after acquiring an additional 32,251 shares during the last quarter. Norges Bank purchased a new stake in shares of Xencor during the fourth quarter worth about $6,909,000. Trexquant Investment LP grew its stake in shares of Xencor by 167.2% during the fourth quarter. Trexquant Investment LP now owns 93,759 shares of the biopharmaceutical company’s stock worth $1,991,000 after acquiring an additional 58,672 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Xencor during the fourth quarter worth about $61,000. Finally, Parallel Advisors LLC grew its stake in shares of Xencor by 303.9% during the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 1,015 shares during the last quarter.

Xencor Trading Down 3.7 %

Shares of NASDAQ:XNCR opened at $20.28 on Tuesday. Xencor, Inc. has a 12-month low of $15.31 and a 12-month high of $26.84. The company has a market capitalization of $1.25 billion, a PE ratio of -9.26 and a beta of 0.66. The business has a 50 day moving average of $18.60 and a two-hundred day moving average of $20.39. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted ($0.37) earnings per share. The company’s revenue was down 62.7% compared to the same quarter last year. As a group, analysts forecast that Xencor, Inc. will post -4.17 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Xencor

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the business’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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.23% of the stock is currently owned by corporate insiders.

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.