Thrivent Financial for Lutherans Raises Holdings in Xencor, Inc. (NASDAQ:XNCR)

Thrivent Financial for Lutherans lifted its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 127.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,369 shares of the biopharmaceutical company’s stock after purchasing an additional 65,180 shares during the quarter. Thrivent Financial for Lutherans owned 0.17% of Xencor worth $2,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XNCR. Primecap Management Co. CA raised its position in shares of Xencor by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 shares in the last quarter. Vanguard Group Inc. raised its holdings in Xencor by 3.6% during the first 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 period. Logos Global Management LP increased its holdings in shares of Xencor by 130.8% in the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after purchasing an additional 850,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $27,628,000 after purchasing an additional 87,979 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Xencor by 52.9% during the second quarter. Point72 Asset Management L.P. now owns 1,261,789 shares of the biopharmaceutical company’s stock valued at $23,886,000 after buying an additional 436,389 shares during the last quarter.

Insider Buying and Selling at Xencor

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total value of $80,851.32. Following the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John R. Desjarlais sold 68,684 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 200,104 shares in the company, valued at approximately $4,698,441.92. This trade represents a 25.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,328 shares of company stock worth $2,879,673 over the last 90 days. Corporate insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on XNCR shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $34.00 target price (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Royal Bank of Canada raised their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target 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. Two research 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. Based on data from MarketBeat.com, Xencor presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Xencor Stock Performance

Shares of XNCR stock opened at $25.62 on Thursday. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $21.65 and a 200 day moving average price of $20.41. The company has a market cap of $1.79 billion, a P/E ratio of -7.91 and a beta of 0.66. Xencor, Inc. has a 12 month low of $15.31 and a 12 month high of $26.84.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.59 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Xencor’s revenue for the quarter was down 81.9% on a year-over-year basis. Sell-side analysts predict that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

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.