Baker BROS. Advisors LP Raises Stake in Xencor, Inc. (NASDAQ:XNCR)

Baker BROS. Advisors LP boosted its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 22.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 670,431 shares of the biopharmaceutical company’s stock after acquiring an additional 125,000 shares during the period. Baker BROS. Advisors LP’s holdings in Xencor were worth $13,482,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of XNCR. Logos Global Management LP grew its stake in shares of Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after purchasing an additional 850,000 shares in the last quarter. Braidwell LP purchased a new stake in Xencor during the 3rd quarter worth about $9,380,000. Point72 Asset Management L.P. boosted its position in shares of Xencor by 52.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,261,789 shares of the biopharmaceutical company’s stock worth $23,886,000 after acquiring an additional 436,389 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Xencor in the 3rd quarter valued at about $7,087,000. Finally, Essex LLC acquired a new stake in shares of Xencor during the 3rd quarter worth about $2,668,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on XNCR. JPMorgan Chase & Co. upped their price target on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Xencor in a report on Thursday, November 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Insider Transactions at Xencor

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of Xencor 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 sale, the vice president now owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. The trade was a 25.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the business’s 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 transaction, the chief executive officer now owns 352,615 shares in the company, valued at $8,487,443.05. The trade was a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,328 shares of company stock worth $2,879,673 over the last ninety days. 5.23% of the stock is currently owned by company insiders.

Xencor Trading Down 0.1 %

NASDAQ:XNCR opened at $25.60 on Monday. Xencor, Inc. has a 12-month low of $15.31 and a 12-month high of $26.84. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $21.93 and its 200-day simple moving average is $20.51. The firm has a market cap of $1.79 billion, a P/E ratio of -8.00 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. Xencor’s revenue was down 81.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. Equities analysts anticipate that Xencor, Inc. will post -3.71 EPS for the current 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.