Essex LLC Sells 19,000 Shares of Xencor, Inc. (NASDAQ:XNCR)

Essex LLC reduced its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 14.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 113,661 shares of the biopharmaceutical company’s stock after selling 19,000 shares during the quarter. Essex LLC’s holdings in Xencor were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Xencor by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 508 shares during the period. KBC Group NV grew its stake in Xencor by 63.5% during the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 1,213 shares in the last quarter. Quarry LP increased its holdings in Xencor by 111.4% in the 3rd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 2,108 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of Xencor in the 3rd quarter valued at approximately $205,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Xencor by 64.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,893 shares of the biopharmaceutical company’s stock worth $239,000 after acquiring an additional 4,650 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price objective for the company. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 price objective (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Xencor presently has an average rating of “Buy” and an average target price of $34.88.

Xencor Trading Down 1.2 %

Shares of NASDAQ XNCR opened at $17.04 on Friday. The company has a 50 day simple moving average of $22.23 and a 200 day simple moving average of $20.97. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor, Inc. has a 1 year low of $15.31 and a 1 year high of $27.24.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. During the same quarter last year, the firm earned ($0.40) earnings per share. The company’s revenue for the quarter was down 81.9% on a year-over-year basis. Equities research analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Activity at Xencor

In other news, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the completion of the sale, the vice president now owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan Bruce Montgomery sold 13,301 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.03, for a total value of $359,526.03. Following the completion of the sale, the director now owns 9,140 shares in the company, valued at $247,054.20. The trade was a 59.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,050 shares of company stock worth $3,277,609 over the last three months. Company insiders own 5.23% of the company’s stock.

Xencor Company 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.