Seven Fleet Capital Management LP Acquires New Shares in Xencor, Inc. $XNCR

Seven Fleet Capital Management LP bought a new stake in Xencor, Inc. (NASDAQ:XNCR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 109,554 shares of the biopharmaceutical company’s stock, valued at approximately $1,677,000. Xencor comprises 1.3% of Seven Fleet Capital Management LP’s portfolio, making the stock its 11th largest position. Seven Fleet Capital Management LP owned about 0.15% of Xencor at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in XNCR. Primecap Management Co. CA grew its holdings in shares of Xencor by 1.4% during the 3rd quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock valued at $125,218,000 after purchasing an additional 147,700 shares during the last quarter. Vanguard Group Inc. lifted its stake in Xencor by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock valued at $109,703,000 after purchasing an additional 61,692 shares during the last quarter. BVF Inc. IL lifted its stake in Xencor by 160.3% in the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock valued at $109,217,000 after purchasing an additional 4,393,579 shares during the last quarter. RTW Investments LP boosted its position in Xencor by 8.9% in the fourth quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock valued at $103,763,000 after buying an additional 556,407 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Xencor by 22.7% during the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock valued at $69,006,000 after acquiring an additional 833,423 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on XNCR shares. Barclays boosted their price objective on shares of Xencor from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen lowered Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research report on Friday, March 27th. Zacks Research cut Xencor from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.50.

Xencor Trading Down 1.1%

Shares of XNCR stock opened at $12.64 on Friday. Xencor, Inc. has a 12 month low of $6.92 and a 12 month high of $18.69. The firm has a market capitalization of $937.13 million, a PE ratio of -5.52 and a beta of 0.92. The firm has a fifty day simple moving average of $12.11 and a two-hundred day simple moving average of $12.95.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.96). The company had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. Xencor’s revenue was down 86.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.66) earnings per share. On average, equities analysts predict that Xencor, Inc. will post -3.84 earnings per share for the current fiscal year.

About Xencor

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.