Armistice Capital LLC Decreases Position in Xencor, Inc. (NASDAQ:XNCR)

Armistice Capital LLC reduced its stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 864,000 shares of the biopharmaceutical company's stock after selling 136,000 shares during the period. Armistice Capital LLC owned approximately 1.40% of Xencor worth $16,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in XNCR. Diversified Trust Co boosted its stake in Xencor by 4.5% in the 1st quarter. Diversified Trust Co now owns 13,059 shares of the biopharmaceutical company's stock worth $289,000 after purchasing an additional 563 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Xencor by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company's stock valued at $1,179,000 after acquiring an additional 690 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Xencor by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company's stock valued at $826,000 after purchasing an additional 699 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Xencor by 3.3% in the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company's stock worth $445,000 after purchasing an additional 744 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Xencor by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company's stock valued at $587,000 after acquiring an additional 900 shares during the last quarter.

Insider Buying and Selling

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of Xencor stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now owns 192,319 shares of the company's stock, valued at approximately $3,523,284.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.23% of the stock is owned by company insiders.

Xencor Price Performance

Shares of XNCR traded up $0.70 during trading hours on Thursday, reaching $20.46. 425,564 shares of the stock traded hands, compared to its average volume of 632,507. The company's 50-day moving average price is $18.59 and its two-hundred day moving average price is $20.35. 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 $1.59 billion, a P/E ratio of -9.31 and a beta of 0.66. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.25). The company had revenue of $16.96 million during the quarter, compared to the consensus estimate of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The business's revenue was down 62.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. On average, analysts anticipate that Xencor, Inc. will post -4.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on XNCR shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $32.00 price target on shares of Xencor in a research note on Tuesday, August 6th. Wedbush reissued an "outperform" rating and set a $34.00 price objective on shares of Xencor in a research report on Monday, September 9th. Royal Bank of Canada lifted their target price on shares of Xencor from $31.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday. Raymond James reduced their price target on Xencor from $58.00 to $40.00 and set a "strong-buy" rating for the company in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Xencor from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Xencor currently has an average rating of "Moderate Buy" and a consensus price target of $34.78.

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.