Braidwell LP Takes Position in Xencor, Inc. (NASDAQ:XNCR)

Braidwell LP acquired a new position in Xencor, Inc. (NASDAQ:XNCR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 466,448 shares of the biopharmaceutical company’s stock, valued at approximately $9,380,000. Braidwell LP owned 0.67% of Xencor as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rockefeller Capital Management L.P. bought a new position in Xencor in the third quarter worth approximately $205,000. FMR LLC increased its stake in shares of Xencor by 315.5% in the 3rd quarter. FMR LLC now owns 16,764 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 12,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Xencor by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,988 shares of the biopharmaceutical company’s stock worth $12,609,000 after purchasing an additional 40,788 shares during the period. Intech Investment Management LLC purchased a new position in Xencor during the third quarter valued at $368,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Xencor during the third quarter valued at about $362,000.

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 $4,698,441.92. The trade was a 25.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the company’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 sale, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,328 shares of company stock valued at $2,879,673. 5.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada raised their price objective on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.75.

Xencor Trading Up 1.3 %

XNCR stock opened at $25.62 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The company’s fifty day moving average price is $21.84 and its 200-day moving average price is $20.48. Xencor, Inc. has a one year low of $15.31 and a one year high of $26.84.

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

Xencor 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.