State Board of Administration of Florida Retirement System Decreases Stake in Xencor, Inc. (NASDAQ:XNCR)
State Board of Administration of Florida Retirement System lowered its stake in Xencor, Inc. (NASDAQ:XNCR) by 71.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,747 shares of the biopharmaceutical company’s stock after selling 24,502 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Xencor were worth $233,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of XNCR. Norges Bank bought a new position in shares of Xencor during the fourth quarter valued at $15,601,000. Dimensional Fund Advisors LP increased its stake in shares of Xencor by 254.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 182,256 shares of the biopharmaceutical company’s stock valued at $4,797,000 after buying an additional 130,778 shares during the period. Acadian Asset Management LLC increased its stake in shares of Xencor by 54.5% in the first quarter. Acadian Asset Management LLC now owns 322,768 shares of the biopharmaceutical company’s stock valued at $7,722,000 after buying an additional 113,862 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Xencor during the fourth quarter valued at about $2,213,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Xencor by 80.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 135,000 shares of the biopharmaceutical company’s stock valued at $3,229,000 after buying an additional 60,000 shares during the period. Institutional investors own 74.29% of the company’s stock.
Shares of Xencor, Inc. (XNCR) traded down 1.46% during trading on Thursday, hitting $21.63. 145,114 shares of the company traded hands. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 51.50 and a beta of 2.14. The firm has a 50 day moving average price of $22.34 and a 200-day moving average price of $23.09. Xencor, Inc. has a one year low of $18.45 and a one year high of $29.38.
Xencor (NASDAQ:XNCR) last released its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.06. The firm had revenue of $4.34 million during the quarter, compared to analysts’ expectations of $8.15 million. Xencor had a return on equity of 5.98% and a net margin of 18.19%. Analysts predict that Xencor, Inc. will post ($1.22) EPS for the current year.
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Several brokerages have issued reports on XNCR. Zacks Investment Research downgraded shares of Xencor from a “buy” rating to a “hold” rating in a report on Saturday, April 29th. Wedbush reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Xencor in a report on Wednesday, May 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.67.
In related news, Director Bruce L. A. Carter sold 12,400 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $22.19, for a total transaction of $275,156.00. Following the completion of the sale, the director now directly owns 83,344 shares in the company, valued at $1,849,403.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder John S. Stafford III purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average price of $19.67 per share, with a total value of $29,505.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 34,766 shares of company stock worth $739,408. 4.03% of the stock is currently owned by insiders.
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. It has developed two clinical-stage product candidates, using its Immune Inhibitor Fc platform: XmAb5871, which is in two Phase II trials and is being developed for autoimmune disease, and XmAb7195, which is in a Phase I trial and is being developed for asthma and allergic diseases.
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