Geode Capital Management LLC Raises Position in Xencor, Inc. (NASDAQ:XNCR)

Geode Capital Management LLC grew its stake in Xencor, Inc. (NASDAQ:XNCR) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,455,350 shares of the biopharmaceutical company’s stock after purchasing an additional 17,658 shares during the quarter. Geode Capital Management LLC owned approximately 2.08% of Xencor worth $29,273,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Panagora Asset Management Inc. raised its position in Xencor by 9.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after buying an additional 20,043 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Xencor by 0.3% in the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock valued at $172,570,000 after purchasing an additional 25,495 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Xencor during the second quarter valued at about $753,000. Barclays PLC lifted its position in shares of Xencor by 100.7% during the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock valued at $3,128,000 after purchasing an additional 78,066 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Xencor by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after purchasing an additional 87,979 shares during the last quarter.

Xencor Price Performance

NASDAQ XNCR opened at $24.80 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. The company has a market cap of $1.74 billion, a PE ratio of -7.75 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 firm’s 50-day simple moving average is $23.65 and its two-hundred day simple moving average is $20.73.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. During the same period in the prior year, the company posted ($0.40) EPS. Xencor’s revenue was down 81.9% compared to the same quarter last year. Research analysts predict that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Transactions at Xencor

In other Xencor news, CEO Bassil I. Dahiyat sold 49,278 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total value of $1,186,121.46. Following the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,487,443.05. This represents a 12.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Bruce Montgomery sold 1,421 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total transaction of $38,409.63. Following the completion of the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,050 shares of company stock valued at $3,277,609 over the last three months. Company insiders own 5.23% of the company’s stock.

Wall Street Analyst Weigh In

XNCR has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Wells Fargo & Company assumed coverage on Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Xencor currently has a consensus rating of “Buy” and a consensus target price of $36.56.

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.