Primecap Management Co. CA Sells 152,763 Shares of Xencor, Inc. (NASDAQ:XNCR)

Primecap Management Co. CA lowered its stake in Xencor, Inc. (NASDAQ:XNCR - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,984,432 shares of the biopharmaceutical company's stock after selling 152,763 shares during the quarter. Primecap Management Co. CA owned about 12.84% of Xencor worth $206,462,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 508 shares in the last quarter. KBC Group NV increased its stake in Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 1,213 shares during the last quarter. Quarry LP raised its holdings in shares of Xencor by 111.4% during the 3rd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock worth $80,000 after acquiring an additional 2,108 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Xencor by 49.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 1,337 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Xencor in the third quarter valued at $205,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Xencor from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Wells Fargo & Company decreased their target price on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Piper Sandler upgraded Xencor from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $20.00 to $30.00 in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Xencor has a consensus rating of "Moderate Buy" and an average price target of $34.38.

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Xencor Trading Down 2.0 %

Shares of XNCR traded down $0.27 during mid-day trading on Friday, reaching $13.20. 2,567,821 shares of the company's stock traded hands, compared to its average volume of 570,522. The stock has a market cap of $930.10 million, a P/E ratio of -4.13 and a beta of 0.75. The stock's 50-day moving average is $16.51 and its two-hundred day moving average is $20.30. Xencor, Inc. has a 12 month low of $12.54 and a 12 month high of $27.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $52.79 million during the quarter, compared to analysts' expectations of $17.14 million. Research analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

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.