Silvercrest Asset Management Group LLC Purchases 6,294 Shares of Xencor, Inc. (NASDAQ:XNCR)

Silvercrest Asset Management Group LLC increased its position in Xencor, Inc. (NASDAQ:XNCR) by 4.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 144,235 shares of the biopharmaceutical company’s stock after buying an additional 6,294 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Xencor were worth $3,192,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in Xencor by 303.9% in the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 1,015 shares during the last quarter. CWM LLC lifted its position in Xencor by 498.7% in the 4th quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 1,147 shares during the last quarter. Signaturefd LLC lifted its position in Xencor by 367.7% in the 4th quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 1,151 shares during the last quarter. GAMMA Investing LLC increased its stake in Xencor by 153.7% in the 1st quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 1,316 shares during the period. Finally, Allworth Financial LP increased its stake in Xencor by 29,487.5% in the 4th quarter. Allworth Financial LP now owns 2,367 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 2,359 shares during the period.

Analyst Ratings Changes

XNCR has been the topic of a number of analyst reports. Raymond James decreased their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating on the stock in a research note on Friday, June 14th. BMO Capital Markets decreased their price target on Xencor from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, June 14th. Wedbush reaffirmed an “outperform” rating and issued a $34.00 price target (down from $36.00) on shares of Xencor in a research note on Thursday, June 13th. BTIG Research decreased their price target on Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada decreased their price target on Xencor from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, June 14th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 36,329 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.23% of the stock is owned by insiders.

Xencor Trading Down 1.0 %

Shares of XNCR traded down $0.22 during mid-day trading on Tuesday, hitting $20.79. 119,425 shares of the company’s stock traded hands, compared to its average volume of 643,615. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02. Xencor, Inc. has a 1 year low of $16.49 and a 1 year high of $26.84. The firm has a market capitalization of $1.28 billion, a P/E ratio of -9.59 and a beta of 0.69. The business’s 50-day moving average price is $20.79 and its 200-day moving average price is $21.27.

Xencor (NASDAQ:XNCR) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.28). Xencor had a negative net margin of 82.23% and a negative return on equity of 20.29%. The business had revenue of $12.80 million for the quarter, compared to analysts’ expectations of $23.07 million. During the same period last year, the firm posted ($1.02) earnings per share. Xencor’s quarterly revenue was down 32.3% on a year-over-year basis. As a group, sell-side analysts forecast that Xencor, Inc. will post -3.5 EPS 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.