Primecap Management Co. CA Raises Stock Position in Xencor, Inc. (NASDAQ:XNCR)

Primecap Management Co. CA lifted its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 0.2% during the third quarter, HoldingsChannel.com reports. The fund owned 9,137,195 shares of the biopharmaceutical company’s stock after buying an additional 20,993 shares during the quarter. Primecap Management Co. CA owned approximately 0.13% of Xencor worth $183,749,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Xencor by 3.6% during the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock worth $155,154,000 after acquiring an additional 243,793 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Xencor by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after acquiring an additional 335,881 shares during the period. Logos Global Management LP increased its position in shares of Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after acquiring an additional 850,000 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Xencor by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after acquiring an additional 87,979 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Xencor by 52.9% during the second quarter. Point72 Asset Management L.P. now owns 1,261,789 shares of the biopharmaceutical company’s stock valued at $23,886,000 after purchasing an additional 436,389 shares in the last quarter.

Insiders Place Their Bets

In related news, CEO Bassil I. Dahiyat sold 3,366 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total transaction of $80,851.32. Following the completion of the transaction, the chief executive officer now owns 352,615 shares of the company’s stock, valued at $8,469,812.30. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the transaction, the vice president now directly owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. This trade represents a 25.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.23% of the company’s stock.

Xencor Price Performance

Shares of XNCR opened at $23.72 on Thursday. Xencor, Inc. has a twelve month low of $15.31 and a twelve month high of $26.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The company has a 50 day moving average of $21.28 and a two-hundred day moving average of $20.37.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The business had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business’s quarterly revenue was down 81.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) earnings per share. Equities analysts predict that Xencor, Inc. will post -3.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 price objective (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Xencor has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Xencor Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.