Loomis Sayles & Co. L P Lowers Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Loomis Sayles & Co. L P lessened its holdings in Xencor, Inc. (NASDAQ:XNCR) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 900,266 shares of the biopharmaceutical company’s stock after selling 20,918 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Xencor were worth $18,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Xencor during the first quarter worth about $4,608,000. Price T Rowe Associates Inc. MD boosted its stake in Xencor by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after purchasing an additional 335,881 shares during the period. Panagora Asset Management Inc. grew its holdings in Xencor by 9.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after buying an additional 20,043 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Xencor by 0.3% during the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock valued at $172,570,000 after buying an additional 25,495 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Xencor in the second quarter worth $753,000.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. 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. Royal Bank of Canada lifted their target price on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. BMO Capital Markets reissued an “outperform” rating and set a $34.00 price target (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. Two investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

Insider Transactions at Xencor

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 200,104 shares of the company’s stock, valued at $4,698,441.92. This represents a 25.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Bassil I. Dahiyat sold 49,278 shares of Xencor stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total value of $1,186,121.46. Following the sale, the chief executive officer now owns 352,615 shares of the company’s stock, valued at approximately $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,328 shares of company stock worth $2,879,673. 5.23% of the stock is currently owned by insiders.

Xencor Stock Down 2.9 %

NASDAQ:XNCR opened at $25.30 on Wednesday. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The business has a 50 day simple moving average of $21.57 and a 200-day simple moving average of $20.39. Xencor, Inc. has a 1 year low of $15.31 and a 1 year high of $26.84.

Xencor (NASDAQ:XNCR) last issued 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. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. During the same period last year, the company earned ($0.40) earnings per share. Xencor’s revenue was down 81.9% on a year-over-year basis. As a group, research analysts anticipate that Xencor, Inc. will post -3.71 EPS for the current year.

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.