Logos Global Management LP Has $28.40 Million Stock Position in Xencor, Inc. (NASDAQ:XNCR)

Logos Global Management LP boosted its position in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 130.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,500,000 shares of the biopharmaceutical company's stock after purchasing an additional 850,000 shares during the quarter. Xencor comprises 2.3% of Logos Global Management LP's holdings, making the stock its 14th biggest position. Logos Global Management LP owned approximately 2.43% of Xencor worth $28,395,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of XNCR. Parallel Advisors LLC raised its position in shares of Xencor by 303.9% during the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 1,015 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Xencor by 153.7% during the 1st quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 1,316 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Xencor in the 4th quarter worth approximately $61,000. SG Americas Securities LLC bought a new stake in shares of Xencor in the 2nd quarter worth approximately $154,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Xencor in the 1st quarter worth approximately $206,000.

Xencor Stock Down 0.3 %

XNCR traded down $0.07 on Tuesday, reaching $20.21. 373,055 shares of the company traded hands, compared to its average volume of 634,605. The stock's 50 day moving average price is $18.60 and its 200-day moving average price is $20.39. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $26.84. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -9.26 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 6.92.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.25). Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The company had revenue of $16.96 million for the quarter, compared to analysts' expectations of $21.13 million. During the same period in the previous year, the firm posted ($0.37) earnings per share. The business's revenue for the quarter was down 62.7% on a year-over-year basis. On average, sell-side analysts expect that Xencor, Inc. will post -4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

XNCR has been the topic of a number of research reports. BMO Capital Markets reiterated an "outperform" rating and issued a $32.00 target price on shares of Xencor in a report on Tuesday, August 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of Xencor in a report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of Xencor from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Raymond James dropped their target price on shares of Xencor from $58.00 to $40.00 and set a "strong-buy" rating on the stock in a report on Friday, June 14th. Finally, Wedbush reiterated an "outperform" rating and issued a $34.00 target price on shares of Xencor in a report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $34.44.

Insider Activity at Xencor

In related news, VP John R. Desjarlais sold 36,329 shares of the business's stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total transaction of $665,547.28. Following the transaction, the vice president now directly owns 192,319 shares of the company's stock, valued at $3,523,284.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.23% of the stock is currently owned by insiders.

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.