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

Erste Asset Management GmbH purchased a new stake in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 352,200 shares of the biopharmaceutical company's stock, valued at approximately $7,087,000. Erste Asset Management GmbH owned approximately 0.50% of Xencor as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. lifted its holdings in shares of Xencor by 9.4% in 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 in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Xencor by 0.3% in the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company's stock valued at $172,570,000 after purchasing an additional 25,495 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Xencor in the second quarter valued at $753,000. Dimensional Fund Advisors LP raised its holdings in shares of Xencor by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company's stock worth $27,628,000 after acquiring an additional 87,979 shares in the last quarter. Finally, Essex LLC purchased a new stake in shares of Xencor during the third quarter worth $2,668,000.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Xencor from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Piper Sandler upgraded Xencor from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $20.00 to $30.00 in a report on Monday. Wedbush reiterated an "outperform" rating and set a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on Xencor from $31.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Finally, BMO Capital Markets restated an "outperform" rating and set a $34.00 target price (up from $32.00) on shares of Xencor in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Xencor presently has a consensus rating of "Buy" and a consensus price target of $36.50.

Xencor Stock Performance

Shares of NASDAQ:XNCR traded up $1.25 during midday trading on Monday, hitting $26.85. The company's stock had a trading volume of 226,520 shares, compared to its average volume of 604,712. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -8.00 and a beta of 0.69. The stock's 50 day simple moving average is $21.93 and its 200 day simple moving average is $20.51. Xencor, Inc. has a fifty-two week low of $15.31 and a fifty-two week high of $27.20. 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 (NASDAQ:XNCR - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping analysts' consensus estimates of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. During the same period last year, the business earned ($0.40) earnings per share. The firm's revenue for the quarter was down 81.9% compared to the same quarter last year. As a group, research analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Buying and Selling

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were 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 $4,698,441.92. This trade represents a 25.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the transaction, the chief executive officer now owns 352,615 shares of the company's stock, valued at approximately $8,487,443.05. This represents 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 valued at $2,879,673 over the last three months. 5.23% of the stock is owned by corporate insiders.

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.