EcoR1 Capital LLC Trims Stake in Xencor, Inc. $XNCR

EcoR1 Capital LLC reduced its stake in Xencor, Inc. (NASDAQ:XNCR) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,183,000 shares of the biopharmaceutical company’s stock after selling 1,135,612 shares during the period. Xencor accounts for 1.1% of EcoR1 Capital LLC’s portfolio, making the stock its 12th largest position. EcoR1 Capital LLC’s holdings in Xencor were worth $26,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of XNCR. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Xencor during the fourth quarter valued at approximately $81,000. Tower Research Capital LLC TRC lifted its position in Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 3,018 shares during the period. E Fund Management Co. Ltd. purchased a new position in Xencor during the second quarter valued at $79,000. Norges Bank bought a new stake in shares of Xencor during the 4th quarter valued at $175,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Xencor in the 3rd quarter worth about $139,000.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. JPMorgan Chase & Co. raised their target price on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded Xencor from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Xencor currently has an average rating of “Moderate Buy” and an average price target of $24.25.

Xencor Stock Performance

Shares of NASDAQ XNCR opened at $19.86 on Tuesday. The firm’s 50 day moving average price is $14.13 and its 200-day moving average price is $12.98. The company has a market cap of $1.47 billion, a PE ratio of -8.67 and a beta of 0.86. Xencor, Inc. has a 52-week low of $6.92 and a 52-week high of $21.26.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The firm had revenue of $4.52 million for the quarter, compared to analysts’ expectations of $27.86 million. During the same quarter in the previous year, the company earned ($0.66) EPS. The company’s quarterly revenue was down 86.2% compared to the same quarter last year. On average, analysts forecast that Xencor, Inc. will post -3.88 earnings per share for the current fiscal year.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.