748,062 Shares in Xencor, Inc. $XNCR Acquired by Johnson & Johnson

Johnson & Johnson acquired a new position in shares of Xencor, Inc. (NASDAQ:XNCR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 748,062 shares of the biopharmaceutical company’s stock, valued at approximately $12,043,798. Xencor accounts for about 0.0% of Johnson & Johnson’s portfolio, making the stock its 8th largest position. Johnson & Johnson owned 1.01% of Xencor as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of XNCR. Tower Research Capital LLC TRC lifted its position in shares of Xencor by 118.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 3,018 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in Xencor in the second quarter worth $79,000. Norges Bank bought a new stake in Xencor in the fourth quarter worth about $175,000. Prelude Capital Management LLC purchased a new stake in shares of Xencor in the 3rd quarter valued at about $139,000. Finally, Entropy Technologies LP bought a new position in shares of Xencor during the fourth quarter valued at about $183,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XNCR. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Wedbush increased their price objective on shares of Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Cantor Fitzgerald upped their price objective on Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Truist Financial reduced their price target on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Xencor presently has a consensus rating of “Hold” and a consensus price target of $24.86.

Xencor Trading Down 9.2%

Shares of XNCR traded down $2.65 during mid-day trading on Friday, reaching $26.23. 622,356 shares of the stock traded hands, compared to its average volume of 889,713. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -12.09 and a beta of 0.85. Xencor, Inc. has a 1 year low of $7.83 and a 1 year high of $30.61. The firm has a fifty day moving average price of $19.54 and a 200 day moving average price of $14.69.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The business had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. During the same quarter in the prior year, the business posted ($0.41) EPS. Xencor’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Xencor, Inc. will post -3 EPS for the current year.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.