Braidwell LP Sells 409,410 Shares of Xencor, Inc. $XNCR

Braidwell LP lessened its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 24.7% in the third quarter, HoldingsChannel.com reports. The firm owned 1,246,280 shares of the biopharmaceutical company’s stock after selling 409,410 shares during the quarter. Braidwell LP’s holdings in Xencor were worth $14,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in XNCR. Walleye Capital LLC purchased a new position in shares of Xencor in the second quarter worth $1,955,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Xencor by 153.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,371 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 17,773 shares during the period. Squarepoint Ops LLC grew its holdings in Xencor by 3,150.0% in the 2nd quarter. Squarepoint Ops LLC now owns 363,153 shares of the biopharmaceutical company’s stock worth $2,854,000 after acquiring an additional 351,979 shares during the last quarter. SG Americas Securities LLC bought a new stake in Xencor in the 3rd quarter worth $1,062,000. Finally, Primecap Management Co. CA increased its position in shares of Xencor by 1.4% in the third quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock valued at $125,218,000 after acquiring an additional 147,700 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently commented on XNCR. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Truist Financial began coverage on Xencor in a research note on Monday, November 24th. They issued a “buy” rating and a $29.00 target price on the stock. Barclays upped their price target on Xencor from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.00.

Xencor Trading Up 3.4%

NASDAQ:XNCR opened at $12.00 on Friday. The company has a 50-day moving average price of $12.47 and a 200-day moving average price of $13.10. The stock has a market cap of $880.08 million, a price-to-earnings ratio of -9.68 and a beta of 0.95. The company has a current ratio of 6.25, a quick ratio of 6.25 and a debt-to-equity ratio of 0.12. Xencor, Inc. has a 12 month low of $6.92 and a 12 month high of $18.69.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.55. Xencor had a negative return on equity of 14.58% and a negative net margin of 73.20%.The business had revenue of $28.24 million for the quarter, compared to analysts’ expectations of $29.97 million. During the same period in the previous year, the firm posted ($0.62) EPS. The business’s revenue was down 46.6% on a year-over-year basis. Equities analysts predict that Xencor, Inc. will post -3.68 EPS for the current year.

Insider Transactions at Xencor

In related news, SVP Celia Eckert sold 3,244 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $11.25, for a total value of $36,495.00. Following the sale, the senior vice president directly owned 78,685 shares of the company’s stock, valued at $885,206.25. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bassil I. Dahiyat sold 114,377 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $15.71, for a total value of $1,796,862.67. Following the completion of the transaction, the chief executive officer owned 466,635 shares of the company’s stock, valued at approximately $7,330,835.85. This trade represents a 19.69% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 231,764 shares of company stock valued at $3,450,009. Corporate insiders own 4.76% of the company’s stock.

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.