Essex LLC Sells 19,000 Shares of Xencor, Inc. (NASDAQ:XNCR)

Essex LLC decreased its holdings in Xencor, Inc. (NASDAQ:XNCR) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,661 shares of the biopharmaceutical company’s stock after selling 19,000 shares during the quarter. Essex LLC owned approximately 0.16% of Xencor worth $2,612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Squarepoint Ops LLC bought a new position in Xencor in the 2nd quarter valued at $326,000. AQR Capital Management LLC bought a new position in Xencor in the second quarter valued at about $753,000. SG Americas Securities LLC increased its position in Xencor by 292.2% in the third quarter. SG Americas Securities LLC now owns 31,887 shares of the biopharmaceutical company’s stock worth $641,000 after purchasing an additional 23,757 shares during the period. Handelsbanken Fonder AB raised its holdings in Xencor by 14.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,300 shares of the biopharmaceutical company’s stock worth $469,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Xencor by 10.1% during the 3rd quarter. Inspire Investing LLC now owns 20,530 shares of the biopharmaceutical company’s stock valued at $413,000 after purchasing an additional 1,887 shares during the period.

Xencor Stock Down 1.2 %

Shares of NASDAQ XNCR opened at $17.04 on Friday. The company has a fifty day moving average price of $22.23 and a 200 day moving average price of $20.97. Xencor, Inc. has a 1-year low of $15.31 and a 1-year 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) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The firm had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. During the same quarter in the previous year, the business posted ($0.40) EPS. The business’s quarterly revenue was down 81.9% compared to the same quarter last year. As a group, equities analysts expect that Xencor, Inc. will post -3.68 EPS for the current year.

Insider Buying and Selling

In other Xencor news, CEO Bassil I. Dahiyat sold 3,366 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total value of $80,851.32. Following the completion of the transaction, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,469,812.30. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John R. Desjarlais sold 68,684 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the transaction, the vice president now directly owns 200,104 shares in the company, valued at $4,698,441.92. This trade represents a 25.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and set a $34.00 price target (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their target price on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company assumed coverage on Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.88.

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.