Texas Permanent School Fund Corp Sells 7,715 Shares of Xencor, Inc. (NASDAQ:XNCR)

Texas Permanent School Fund Corp trimmed its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 14.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,562 shares of the biopharmaceutical company’s stock after selling 7,715 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Xencor worth $862,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of XNCR. Norges Bank bought a new stake in Xencor during the 4th quarter valued at $6,909,000. Vanguard Group Inc. increased its position in shares of Xencor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,767,249 shares of the biopharmaceutical company’s stock worth $143,669,000 after acquiring an additional 115,886 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Xencor in the 1st quarter worth about $4,608,000. Entropy Technologies LP bought a new position in Xencor in the 1st quarter valued at about $573,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Xencor by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock valued at $84,530,000 after purchasing an additional 335,881 shares during the last quarter.

Insider Activity at Xencor

In other news, VP John R. Desjarlais sold 36,329 shares of the firm’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 completion of the transaction, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on XNCR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Xencor in a research note on Tuesday, August 6th. Wedbush restated an “outperform” rating and set a $34.00 price objective on shares of Xencor in a research note on Monday, September 9th. Raymond James reduced their target price on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. cut their price target on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.44.

Xencor Price Performance

Shares of NASDAQ XNCR opened at $21.07 on Friday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -9.62 and a beta of 0.66. The stock has a fifty day simple moving average of $18.59 and a two-hundred day simple moving average of $20.45. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02. Xencor, Inc. has a 1-year low of $15.31 and a 1-year high of $26.84.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). The firm had revenue of $16.96 million during the quarter, compared to the consensus estimate of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The company’s revenue was down 62.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. Analysts anticipate that Xencor, Inc. will post -4.17 earnings per share for the current year.

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.