US Bancorp DE Reduces Stock Position in Xencor, Inc. (NASDAQ:XNCR)

US Bancorp DE lessened its holdings in Xencor, Inc. (NASDAQ:XNCR) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,375 shares of the biopharmaceutical company’s stock after selling 532 shares during the quarter. US Bancorp DE’s holdings in Xencor were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quarry LP bought a new position in shares of Xencor in the second quarter worth about $36,000. SG Americas Securities LLC bought a new position in Xencor in the 2nd quarter worth about $154,000. XTX Topco Ltd purchased a new position in shares of Xencor during the second quarter worth approximately $196,000. Acadian Asset Management LLC bought a new stake in shares of Xencor during the first quarter valued at approximately $206,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Xencor during the second quarter valued at approximately $212,000.

Xencor Stock Performance

Shares of Xencor stock opened at $23.50 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of -7.34 and a beta of 0.66. The company has a 50-day simple moving average of $20.84 and a two-hundred day simple moving average of $20.37. Xencor, Inc. has a one year low of $15.31 and a one year high of $26.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The firm had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business’s quarterly revenue was down 81.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. Research analysts expect that Xencor, Inc. will post -3.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on XNCR shares. BMO Capital Markets restated an “outperform” rating and set a $34.00 price objective (up from $32.00) on shares of Xencor in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective 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, Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

Insider Activity at Xencor

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