Acadian Asset Management LLC Sells 4,662 Shares of Xencor, Inc. (NASDAQ:XNCR)

Acadian Asset Management LLC decreased its holdings in Xencor, Inc. (NASDAQ:XNCR) by 49.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,712 shares of the biopharmaceutical company’s stock after selling 4,662 shares during the quarter. Acadian Asset Management LLC’s holdings in Xencor were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in XNCR. Victory Capital Management Inc. lifted its holdings in shares of Xencor by 16.4% in the fourth quarter. Victory Capital Management Inc. now owns 24,637 shares of the biopharmaceutical company’s stock valued at $523,000 after purchasing an additional 3,477 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Xencor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,698 shares of the biopharmaceutical company’s stock worth $11,054,000 after acquiring an additional 32,251 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Xencor by 105.8% during the 4th quarter. BNP Paribas Financial Markets now owns 82,488 shares of the biopharmaceutical company’s stock worth $1,751,000 after acquiring an additional 42,403 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Xencor by 475.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,757 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 3,930 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Xencor in the fourth quarter valued at about $6,909,000.

Xencor Price Performance

NASDAQ XNCR opened at $21.07 on Friday. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.64 billion, a PE ratio of -9.62 and a beta of 0.66. Xencor, Inc. has a 52 week low of $15.31 and a 52 week high of $26.84. The firm’s 50-day simple moving average is $18.59 and its two-hundred day simple moving average is $20.43.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, VP John R. Desjarlais sold 36,329 shares of Xencor 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 in the company, valued at $3,523,284.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.23% of the company’s stock.

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.