Braidwell LP Makes New Investment in Xencor, Inc. (NASDAQ:XNCR)

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

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

Xencor Stock Down 0.1 %

Shares of NASDAQ XNCR traded down $0.02 during mid-day trading on Friday, reaching $25.60. 317,416 shares of the company were exchanged, compared to its average volume of 653,793. 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. The company's 50 day moving average price is $21.93 and its 200 day moving average price is $20.51.

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

Insiders Place Their Bets

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of Xencor stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total value of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at approximately $8,469,812.30. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction dated 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 sale, the vice president now owns 200,104 shares of the company's stock, valued at $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,328 shares of company stock valued at $2,879,673 over the last quarter. 5.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on XNCR shares. BMO Capital Markets reiterated an "outperform" rating and set a $34.00 price target (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 report on Thursday, November 7th. Royal Bank of Canada increased their target price on shares of Xencor from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Finally, Wedbush restated an "outperform" rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Xencor has a consensus rating of "Moderate Buy" and an average price target of $35.75.

Xencor Company 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.