The Manufacturers Life Insurance Company Reduces Holdings in Xencor, Inc. (NASDAQ:XNCR)

The Manufacturers Life Insurance Company reduced its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,716 shares of the biopharmaceutical company’s stock after selling 10,272 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.16% of Xencor worth $2,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Baillie Gifford & Co. grew its position in shares of Xencor by 3.3% during the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after acquiring an additional 744 shares during the last quarter. Louisiana State Employees Retirement System grew its position 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 worth $587,000 after purchasing an additional 900 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Xencor by 7.8% in the second quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock valued at $266,000 after buying an additional 1,017 shares during the last quarter. KBC Group NV raised its holdings in shares of Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 1,213 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its stake in shares of Xencor by 4.2% during the second quarter. WINTON GROUP Ltd now owns 46,481 shares of the biopharmaceutical company’s stock worth $880,000 after buying an additional 1,883 shares during the period.

Insider Buying and Selling

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

Analyst Ratings Changes

XNCR has been the topic of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Xencor presently has a consensus rating of “Buy” and an average price target of $36.50.

Xencor Stock Performance

Shares of XNCR opened at $25.34 on Monday. The company has a market capitalization of $1.77 billion, a PE ratio of -7.92 and a beta of 0.69. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $27.24. The company has a 50-day simple moving average of $22.51 and a 200-day simple moving average of $20.60. 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 posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company’s revenue for the quarter was down 81.9% on a year-over-year basis. During the same period last year, the firm earned ($0.40) EPS. Equities research analysts predict that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

Xencor 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.