Raymond James Financial Inc. Takes Position in Xencor, Inc. (NASDAQ:XNCR)

Raymond James Financial Inc. purchased a new stake in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 101,346 shares of the biopharmaceutical company's stock, valued at approximately $2,329,000. Raymond James Financial Inc. owned about 0.14% of Xencor as of its most recent SEC filing.

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

Xencor Price Performance

XNCR stock traded up $0.13 during trading on Wednesday, reaching $9.82. The company's stock had a trading volume of 765,389 shares, compared to its average volume of 598,563. The company's fifty day moving average is $14.96 and its 200-day moving average is $19.86. Xencor, Inc. has a 1 year low of $9.52 and a 1 year high of $27.24. The company has a market capitalization of $691.94 million, a P/E ratio of -3.07 and a beta of 0.74. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $17.14 million. On average, research analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on XNCR shares. Wells Fargo & Company cut their target price on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. StockNews.com downgraded shares of Xencor from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.38.

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.