KLP Kapitalforvaltning AS Acquires New Position in Xencor, Inc. (NASDAQ:XNCR)

KLP Kapitalforvaltning AS bought a new position in Xencor, Inc. (NASDAQ:XNCR) during the fourth quarter, Holdings Channel.com reports. The fund bought 12,200 shares of the biopharmaceutical company’s stock, valued at approximately $280,000.

A number of other institutional investors have also modified their holdings of XNCR. GAMMA Investing LLC boosted its holdings in shares of Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 508 shares during the period. Quarry LP lifted its holdings in shares of Xencor by 111.4% in the 3rd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $80,000 after buying an additional 2,108 shares during the period. KBC Group NV grew its position in shares of Xencor by 26.0% during the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 813 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Xencor by 49.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,337 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Xencor during the third quarter valued at $205,000.

Xencor Stock Performance

Shares of Xencor stock opened at $8.69 on Monday. The company has a market capitalization of $612.31 million, a PE ratio of -2.72 and a beta of 0.90. The company has a 50-day simple moving average of $14.51 and a two-hundred day simple moving average of $19.68. Xencor, Inc. has a one year low of $8.45 and a one year high of $27.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $52.79 million during the quarter, compared to analyst estimates of $17.14 million. Research analysts expect that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on XNCR shares. StockNews.com cut shares of Xencor from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Wells Fargo & Company lowered their price target on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Xencor currently has an average rating of “Moderate Buy” and an average target price of $34.38.

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.