Cubist Systematic Strategies LLC Lowers Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Cubist Systematic Strategies LLC reduced its position in Xencor, Inc. (NASDAQ:XNCR) by 47.4% in the 2nd quarter, Holdings Channel reports. The fund owned 101,653 shares of the biopharmaceutical company’s stock after selling 91,691 shares during the period. Cubist Systematic Strategies LLC’s holdings in Xencor were worth $1,924,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co grew its stake in Xencor by 4.5% in the 1st quarter. Diversified Trust Co now owns 13,059 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 563 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Xencor by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company’s stock valued at $1,179,000 after buying an additional 690 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Xencor by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock valued at $826,000 after buying an additional 699 shares during the period. Baillie Gifford & Co. grew its stake in shares of Xencor by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock valued at $445,000 after buying an additional 744 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in shares of Xencor by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock valued at $587,000 after buying an additional 900 shares during the period.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other 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 sale, the vice president now owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.23% of the stock is currently owned by company insiders.

Xencor Stock Performance

Shares of XNCR stock opened at $20.11 on Tuesday. Xencor, Inc. has a 12 month low of $15.31 and a 12 month high of $26.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 6.92. The firm has a market capitalization of $1.57 billion, a P/E ratio of -9.18 and a beta of 0.66. The company’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $20.29.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. The business’s quarterly revenue was down 62.7% compared to the same quarter last year. On average, research analysts anticipate 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.