RTW Investments LP Takes $11.56 Million Position in Xencor, Inc. (NASDAQ:XNCR)

RTW Investments LP acquired a new position in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 575,000 shares of the biopharmaceutical company's stock, valued at approximately $11,563,000. RTW Investments LP owned approximately 0.82% of Xencor at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of XNCR. Point72 DIFC Ltd grew its holdings in Xencor by 10.9% in the 3rd quarter. Point72 DIFC Ltd now owns 13,511 shares of the biopharmaceutical company's stock valued at $272,000 after buying an additional 1,333 shares during the period. Point72 Asset Management L.P. increased its holdings in Xencor by 147.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company's stock valued at $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Xencor during the 3rd quarter valued at about $939,000. Baker BROS. Advisors LP lifted its position in shares of Xencor by 22.9% during the third quarter. Baker BROS. Advisors LP now owns 670,431 shares of the biopharmaceutical company's stock worth $13,482,000 after purchasing an additional 125,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Xencor by 8.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company's stock worth $244,000 after acquiring an additional 949 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have weighed in on XNCR shares. Piper Sandler upgraded shares of Xencor from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $20.00 to $30.00 in a research note on Monday. Royal Bank of Canada raised their target price on shares of Xencor from $31.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on Xencor from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. BMO Capital Markets reissued an "outperform" rating and issued a $34.00 price target (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $36.50.

Xencor Trading Down 0.3 %

Shares of XNCR traded down $0.08 during midday trading on Thursday, reaching $26.12. The stock had a trading volume of 622,218 shares, compared to its average volume of 608,971. The firm's 50 day moving average price is $22.31 and its 200-day moving average price is $20.60. Xencor, Inc. has a 52 week low of $15.31 and a 52 week high of $27.24. 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 announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to analysts' expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business's revenue was down 81.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) EPS. On average, equities analysts anticipate that Xencor, Inc. will post -3.71 EPS for the current year.

Insider Activity

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the completion of the sale, the vice president now directly owns 200,104 shares in the company, valued at approximately $4,698,441.92. This trade represents a 25.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Bassil I. Dahiyat sold 3,366 shares of Xencor stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total transaction of $80,851.32. Following the sale, the chief executive officer now directly owns 352,615 shares of the company's stock, valued at $8,469,812.30. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,050 shares of company stock valued at $3,277,609 over the last three months. Insiders own 5.23% of the company's stock.

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.