Essex LLC Takes Position in Xencor, Inc. (NASDAQ:XNCR)

Essex LLC purchased a new position in Xencor, Inc. (NASDAQ:XNCR) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 132,661 shares of the biopharmaceutical company’s stock, valued at approximately $2,668,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Xencor during the 2nd quarter valued at about $36,000. GAMMA Investing LLC lifted its stake in shares of Xencor by 153.7% in the first quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 1,316 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Xencor during the second quarter valued at approximately $154,000. XTX Topco Ltd bought a new stake in shares of Xencor during the second quarter valued at approximately $196,000. Finally, Acadian Asset Management LLC purchased a new position in Xencor in the 1st quarter worth approximately $206,000.

Xencor Price Performance

XNCR opened at $21.78 on Friday. The company has a 50 day simple moving average of $18.99 and a two-hundred day simple moving average of $20.11. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02. Xencor, Inc. has a 1-year low of $15.31 and a 1-year high of $26.84.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). The business had revenue of $16.96 million for the quarter, compared to the consensus estimate of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. Xencor’s revenue was down 62.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.37) earnings per share. As a group, equities analysts anticipate that Xencor, Inc. will post -4.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XNCR. JPMorgan Chase & Co. reduced their price objective on Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $34.00 price objective on shares of Xencor in a report on Monday, September 9th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $32.00 target price on shares of Xencor in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.78.

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.