Xencor, Inc. (NASDAQ:XNCR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Xencor, Inc. (NASDAQ:XNCR) by 5.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 291,916 shares of the biopharmaceutical company’s stock after selling 15,251 shares during the period. Principal Financial Group Inc. owned 0.42% of Xencor worth $5,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in Xencor during the third quarter worth about $540,000. Geode Capital Management LLC lifted its holdings in shares of Xencor by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after purchasing an additional 17,658 shares during the last quarter. Barclays PLC boosted its position in Xencor by 100.7% during the 3rd quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock valued at $3,128,000 after purchasing an additional 78,066 shares during the period. XTX Topco Ltd grew its stake in Xencor by 113.2% during the 3rd quarter. XTX Topco Ltd now owns 22,080 shares of the biopharmaceutical company’s stock worth $444,000 after buying an additional 11,725 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Xencor by 18.6% in the third quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after buying an additional 26,473 shares during the period.

Xencor Trading Down 3.1 %

Shares of XNCR stock opened at $22.98 on Thursday. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $23.89 and a 200 day simple moving average of $20.81. Xencor, Inc. has a fifty-two week low of $15.31 and a fifty-two week high of $27.24. The stock has a market capitalization of $1.61 billion, a P/E ratio of -7.18 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last announced 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 return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. During the same period in the prior year, the business posted ($0.40) earnings per share. Xencor’s revenue was down 81.9% compared to the same quarter last year. On average, sell-side analysts expect that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 68,684 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $23.48, for a total transaction 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 approximately $4,698,441.92. This trade represents a 25.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan Bruce Montgomery sold 13,301 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.03, for a total transaction of $359,526.03. Following the completion of the sale, the director now owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 59.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,050 shares of company stock valued at $3,277,609. Company insiders own 5.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on XNCR shares. Wells Fargo & Company initiated coverage on shares of Xencor in a research report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price objective on the stock. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $30.00 in a report on Monday, December 2nd. Royal Bank of Canada increased their price objective on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. 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 note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $36.56.

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.