Loomis Sayles & Co. L P Cuts Stake in Xencor, Inc. (NASDAQ:XNCR)

Loomis Sayles & Co. L P lowered its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 900,266 shares of the biopharmaceutical company's stock after selling 20,918 shares during the period. Loomis Sayles & Co. L P owned about 1.29% of Xencor worth $18,104,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in XNCR. Vanguard Group Inc. lifted its holdings in Xencor by 3.6% during the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company's stock worth $155,154,000 after acquiring an additional 243,793 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Xencor by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 78,425 shares of the biopharmaceutical company's stock worth $1,733,000 after purchasing an additional 3,210 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Xencor by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company's stock worth $84,530,000 after buying an additional 335,881 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Xencor by 4.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 144,235 shares of the biopharmaceutical company's stock valued at $3,192,000 after buying an additional 6,294 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Xencor during the first quarter valued at about $4,608,000.

Wall Street Analyst Weigh In

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

Xencor Trading Down 2.9 %

Shares of XNCR stock opened at $25.30 on Wednesday. Xencor, Inc. has a 1 year low of $15.31 and a 1 year high of $26.84. The company's fifty day simple moving average is $21.65 and its two-hundred day simple moving average is $20.41. 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 stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.91 and a beta of 0.66.

Xencor (NASDAQ:XNCR - Get Free Report) last released its quarterly earnings data 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 return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same period in the previous year, the company posted ($0.40) EPS. The firm's revenue for the quarter was down 81.9% compared to the same quarter last year. As a group, analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Transactions at Xencor

In other Xencor news, CEO Bassil I. Dahiyat sold 3,366 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total value of $80,851.32. Following the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,469,812.30. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of the business's stock in a transaction on 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 transaction, the vice president now owns 200,104 shares of the company's stock, valued at $4,698,441.92. This trade represents a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,328 shares of company stock valued at $2,879,673. 5.23% of the stock is currently 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.