Logos Global Management LP Purchases 850,000 Shares of Xencor, Inc. (NASDAQ:XNCR)

Logos Global Management LP grew its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 130.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,500,000 shares of the biopharmaceutical company’s stock after acquiring an additional 850,000 shares during the quarter. Xencor comprises approximately 2.3% of Logos Global Management LP’s holdings, making the stock its 14th largest holding. Logos Global Management LP owned 2.43% of Xencor worth $28,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XNCR. Darwin Global Management Ltd. bought a new position in shares of Xencor during the 1st quarter valued at approximately $24,557,000. Price T Rowe Associates Inc. MD boosted its position in shares of Xencor by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock valued at $84,530,000 after acquiring an additional 335,881 shares during the last quarter. Norges Bank bought a new position in shares of Xencor during the 4th quarter valued at approximately $6,909,000. Baker BROS. Advisors LP boosted its position in shares of Xencor by 122.2% during the 1st quarter. Baker BROS. Advisors LP now owns 545,431 shares of the biopharmaceutical company’s stock valued at $12,070,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Xencor by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock valued at $155,154,000 after acquiring an additional 243,793 shares during the last quarter.

Xencor Stock Down 3.7 %

NASDAQ:XNCR opened at $20.28 on Tuesday. Xencor, Inc. has a twelve month low of $15.31 and a twelve month high of $26.84. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -9.26 and a beta of 0.66. The stock has a fifty day simple moving average of $18.60 and a 200-day simple moving average of $20.39. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02.

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

Analyst Ratings Changes

A number of research firms have recently commented on XNCR. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 target price on shares of Xencor in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Xencor in a research note on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Xencor in a research note on Monday, September 9th. JPMorgan Chase & Co. dropped their price objective on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Raymond James dropped their price objective on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.44.

Insider Activity at Xencor

In related news, VP John R. Desjarlais sold 36,329 shares of Xencor stock in a transaction dated 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 sale, the vice president now directly owns 192,319 shares in the company, valued at $3,523,284.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.23% of the stock is currently owned by corporate insiders.

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.