Erste Asset Management GmbH Takes Position in Xencor, Inc. (NASDAQ:XNCR)

Erste Asset Management GmbH acquired a new position in shares of Xencor, Inc. (NASDAQ:XNCR) during the 3rd quarter, HoldingsChannel reports. The firm acquired 352,200 shares of the biopharmaceutical company’s stock, valued at approximately $7,087,000.

A number of other large investors have also recently bought and sold shares of XNCR. Panagora Asset Management Inc. grew its holdings in shares of Xencor by 9.4% during the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after purchasing an additional 20,043 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Xencor by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after purchasing an additional 25,495 shares during the last quarter. AQR Capital Management LLC acquired a new position in Xencor during the 2nd quarter valued at approximately $753,000. Dimensional Fund Advisors LP grew its stake in Xencor by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after buying an additional 87,979 shares during the last quarter. Finally, Essex LLC acquired a new stake in Xencor in the third quarter worth $2,668,000.

Wall Street Analysts Forecast Growth

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

Xencor Price Performance

XNCR stock opened at $25.60 on Monday. The firm’s 50-day moving average is $21.93 and its two-hundred day moving average is $20.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. Xencor, Inc. has a 52 week low of $15.31 and a 52 week high of $26.84.

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

Insider Transactions at Xencor

In related news, CEO Bassil I. Dahiyat sold 49,278 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the completion of the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at approximately $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,612,700.32. Following the completion of the transaction, the vice president now owns 200,104 shares in the company, valued at approximately $4,698,441.92. This trade represents a 25.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,328 shares of company stock valued at $2,879,673. Corporate insiders own 5.23% of the company’s stock.

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.