Connor Clark & Lunn Investment Management Ltd. Invests $362,000 in Xencor, Inc. (NASDAQ:XNCR)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Xencor, Inc. (NASDAQ:XNCR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,998 shares of the biopharmaceutical company’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC increased its stake in shares of Xencor by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock valued at $826,000 after purchasing an additional 699 shares during the period. Baillie Gifford & Co. increased its position in Xencor by 3.3% in the 2nd quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock valued at $445,000 after acquiring an additional 744 shares during the period. Louisiana State Employees Retirement System raised its stake in Xencor by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock valued at $587,000 after acquiring an additional 900 shares in the last quarter. Diversified Trust Co boosted its position in Xencor by 7.8% during the 2nd quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 1,017 shares during the period. Finally, KBC Group NV boosted its position in Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares during the period.

Xencor Trading Down 0.1 %

Shares of NASDAQ XNCR opened at $25.60 on Friday. 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, Inc. has a 12 month low of $15.31 and a 12 month high of $26.84. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -8.00 and a beta of 0.66. The business has a fifty day simple moving average of $21.93 and a 200-day simple moving average of $20.51.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.59 million. During the same quarter in the previous year, the company earned ($0.40) EPS. The business’s revenue for the quarter was down 81.9% compared to the same quarter last year. Sell-side analysts predict that Xencor, Inc. will post -3.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research note on Thursday, November 7th. Royal Bank of Canada upped 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. BMO Capital Markets reaffirmed 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. Finally, JPMorgan Chase & Co. boosted their price objective on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Insider Activity

In other Xencor news, CEO Bassil I. Dahiyat sold 49,278 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the completion of the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at approximately $8,487,443.05. This trade represents a 12.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction dated Monday, November 11th. The shares were 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 approximately $4,698,441.92. This trade represents a 25.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,328 shares of company stock worth $2,879,673 over the last 90 days. 5.23% of the stock is owned by company insiders.

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.