Principal Financial Group Inc. Sells 15,251 Shares of Xencor, Inc. (NASDAQ:XNCR)

Principal Financial Group Inc. reduced its position in Xencor, Inc. (NASDAQ:XNCR) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,916 shares of the biopharmaceutical company’s stock after selling 15,251 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Xencor worth $5,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of XNCR. Jacobs Levy Equity Management Inc. bought a new stake in Xencor during the 1st quarter valued at approximately $4,608,000. Price T Rowe Associates Inc. MD raised its position in shares of Xencor by 9.6% during the first 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 buying an additional 335,881 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Xencor by 9.4% in the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock worth $4,399,000 after buying an additional 20,043 shares in the last quarter. Primecap Management Co. CA grew its stake in Xencor by 0.3% during 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 acquiring an additional 25,495 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Xencor in the 2nd quarter worth $753,000.

Xencor Trading Up 0.4 %

XNCR opened at $23.72 on Thursday. 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. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -7.40 and a beta of 0.66. The stock’s 50 day moving average price is $21.28 and its 200-day moving average price is $20.37.

Xencor (NASDAQ:XNCR) last released its earnings results 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 business had revenue of $10.70 million for the quarter, compared to analyst estimates 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 revenue was down 81.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) earnings per share. On average, equities analysts forecast that Xencor, Inc. will post -3.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $34.00 price target (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Xencor currently has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Insider Buying and Selling at Xencor

In related news, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the completion of the sale, the vice president now directly owns 200,104 shares in the company, valued at $4,698,441.92. The trade was a 25.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the stock in a transaction dated Wednesday, November 13th. The stock was 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. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.23% of the stock is owned by corporate insiders.

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.