Legal & General Group Plc Acquires Shares of 1,091,177 Xencor, Inc. $XNCR

Legal & General Group Plc bought a new stake in Xencor, Inc. (NASDAQ:XNCR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,091,177 shares of the biopharmaceutical company’s stock, valued at approximately $17,568,000. Legal & General Group Plc owned 1.47% of Xencor as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 3,018 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Xencor in the second quarter valued at about $55,000. E Fund Management Co. Ltd. bought a new stake in Xencor during the second quarter worth about $79,000. iSAM Funds UK Ltd acquired a new position in Xencor during the second quarter valued at approximately $122,000. Finally, Prelude Capital Management LLC acquired a new position in Xencor during the third quarter valued at approximately $139,000.

Xencor Price Performance

Shares of Xencor stock opened at $26.06 on Monday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -12.01 and a beta of 0.85. Xencor, Inc. has a twelve month low of $7.83 and a twelve month high of $30.61. The business has a 50-day moving average price of $19.80 and a 200-day moving average price of $14.79.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.51. The firm had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.41) earnings per share. On average, equities analysts expect that Xencor, Inc. will post -3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on XNCR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Zacks Research raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wedbush boosted their target price on shares of Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada increased their price target on shares of Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.86.

Xencor 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.