State Street Corp Sells 233,086 Shares of Xencor, Inc. (NASDAQ:XNCR)

State Street Corp cut its position in shares of Xencor, Inc. (NASDAQ:XNCR - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,119,290 shares of the biopharmaceutical company's stock after selling 233,086 shares during the quarter. State Street Corp owned about 4.46% of Xencor worth $62,729,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of XNCR. Quarry LP bought a new position in shares of Xencor in the 2nd quarter worth about $36,000. KBC Group NV increased its position in Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company's stock valued at $63,000 after buying an additional 1,213 shares in the last quarter. SG Americas Securities LLC acquired a new position in Xencor during the 2nd quarter worth approximately $154,000. Rockefeller Capital Management L.P. acquired a new position in shares of Xencor during the third quarter valued at about $205,000. Finally, XTX Topco Ltd purchased a new stake in Xencor in the 2nd quarter valued at $196,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Xencor from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. BMO Capital Markets reiterated an "outperform" rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Piper Sandler upgraded shares of Xencor from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. Wedbush reissued an "outperform" rating and set a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on Xencor from $31.00 to $34.00 and gave the stock an "outperform" rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Xencor has a consensus rating of "Buy" and a consensus price target of $36.56.

Insider Transactions at Xencor

In related news, VP John R. Desjarlais sold 68,684 shares of the business'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 transaction, the vice president now owns 200,104 shares in the company, valued at $4,698,441.92. The trade was a 25.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Bruce Montgomery sold 1,421 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the sale, the director now owns 9,140 shares of the company's stock, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is currently owned by insiders.

Xencor Price Performance

NASDAQ:XNCR traded up $0.28 during midday trading on Thursday, hitting $24.01. The company had a trading volume of 825,235 shares, compared to its average volume of 611,699. The stock's fifty day moving average price is $23.33 and its 200-day moving average price is $20.68. 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. The company has a market capitalization of $1.68 billion, a PE ratio of -7.50 and a beta of 0.69.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.98) by $0.27. The firm had revenue of $10.70 million during the quarter, compared to analysts' expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company's revenue for the quarter was down 81.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.40) EPS. As a group, research analysts expect that Xencor, Inc. will post -3.71 earnings per share for the current year.

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.