Principal Financial Group Inc. Grows Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Principal Financial Group Inc. grew its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 340,145 shares of the biopharmaceutical company’s stock after acquiring an additional 48,229 shares during the period. Principal Financial Group Inc. owned about 0.49% of Xencor worth $7,817,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Xencor by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 508 shares during the period. KBC Group NV grew its position in shares of Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 1,213 shares during the last quarter. Quarry LP increased its stake in shares of Xencor by 111.4% during the third quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 2,108 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of Xencor during the third quarter valued at approximately $205,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in Xencor by 8.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 949 shares during the period.

Insiders Place Their Bets

In other Xencor news, Director Alan Bruce Montgomery sold 1,421 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 price target (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Wells Fargo & Company reduced their target price on Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday. Finally, StockNews.com lowered Xencor from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.38.

Xencor Stock Up 2.5 %

XNCR stock opened at $15.36 on Friday. The business has a 50 day moving average of $19.43 and a 200 day moving average of $20.64. The firm has a market cap of $1.07 billion, a PE ratio of -4.80 and a beta of 0.70. Xencor, Inc. has a twelve month low of $14.18 and a twelve month high of $27.24. 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 issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.19. The firm had revenue of $52.79 million during the quarter, compared to the consensus estimate of $17.14 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. On average, research analysts forecast that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

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.