Point72 Asset Management L.P. Buys 1,858,440 Shares of Xencor, Inc. (NASDAQ:XNCR)

Point72 Asset Management L.P. raised its stake in Xencor, Inc. (NASDAQ:XNCR) by 147.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,120,229 shares of the biopharmaceutical company’s stock after purchasing an additional 1,858,440 shares during the period. Point72 Asset Management L.P.’s holdings in Xencor were worth $62,748,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of XNCR. Quarry LP bought a new position in shares of Xencor during the 2nd quarter worth about $36,000. KBC Group NV lifted its holdings in shares of Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares during the period. SG Americas Securities LLC bought a new position in shares of Xencor during the 2nd quarter worth about $154,000. Rockefeller Capital Management L.P. bought a new position in shares of Xencor during the 3rd quarter worth about $205,000. Finally, XTX Topco Ltd bought a new position in shares of Xencor during the 2nd quarter worth about $196,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on XNCR shares. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $20.00 to $30.00 in a research report on Monday. JPMorgan Chase & Co. increased 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. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 target price (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their price objective 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. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Xencor presently has a consensus rating of “Buy” and a consensus price target of $36.50.

Insider Buying and Selling

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 shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bassil I. Dahiyat sold 49,278 shares of Xencor 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 transaction, the chief executive officer now directly owns 352,615 shares in the company, valued at approximately $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 136,050 shares of company stock valued at $3,277,609 in the last 90 days. 5.23% of the stock is owned by insiders.

Xencor Stock Performance

Xencor stock opened at $26.20 on Thursday. The company’s 50 day simple moving average is $22.31 and its 200 day simple moving average is $20.60. Xencor, Inc. has a fifty-two week low of $15.31 and a fifty-two week high of $27.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter last year, the firm earned ($0.40) EPS. Xencor’s quarterly revenue was down 81.9% compared to the same quarter last year. As a group, equities analysts anticipate that Xencor, Inc. will post -3.71 EPS 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.