BNP Paribas Financial Markets Sells 1,084 Shares of Xencor, Inc. (NASDAQ:XNCR)

BNP Paribas Financial Markets lowered its holdings in Xencor, Inc. (NASDAQ:XNCR) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,357 shares of the biopharmaceutical company’s stock after selling 1,084 shares during the quarter. BNP Paribas Financial Markets’ holdings in Xencor were worth $269,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Xencor in the 2nd quarter valued at approximately $36,000. KBC Group NV raised its stake in Xencor by 63.5% during the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Xencor in the 2nd quarter worth about $154,000. XTX Topco Ltd acquired a new stake in shares of Xencor during the 2nd quarter worth about $196,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Xencor during the 2nd quarter valued at about $212,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XNCR. Wells Fargo & Company began coverage on shares of Xencor in a research note on Thursday. They set an “overweight” rating and a $37.00 price objective on the stock. Royal Bank of Canada increased their price target on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. Finally, Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Xencor in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, eight 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 has an average rating of “Buy” and an average price target of $36.56.

Xencor Price Performance

Shares of XNCR stock opened at $24.03 on Monday. The firm’s 50 day moving average price is $23.03 and its two-hundred day moving average price is $20.64. The stock has a market cap of $1.68 billion, a PE ratio of -7.51 and a beta of 0.69. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $27.24. 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 issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) 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 firm 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 earned ($0.40) earnings per share. The business’s quarterly revenue was down 81.9% on a year-over-year basis. As a group, analysts forecast that Xencor, Inc. will post -3.71 EPS for the current year.

Insider Buying and Selling at Xencor

In related news, Director Alan Bruce Montgomery sold 13,301 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.03, for a total transaction of $359,526.03. Following the sale, the director now directly owns 9,140 shares in the company, valued at $247,054.20. This trade represents a 59.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the completion of the transaction, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at approximately $8,487,443.05. The trade was a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,050 shares of company stock valued at $3,277,609. Company insiders own 5.23% of the company’s stock.

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.