Arizona State Retirement System Sells 1,149 Shares of Xencor, Inc. (NASDAQ:XNCR)

Arizona State Retirement System cut its holdings in shares of Xencor, Inc. (NASDAQ:XNCR) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,041 shares of the biopharmaceutical company’s stock after selling 1,149 shares during the period. Arizona State Retirement System’s holdings in Xencor were worth $181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in XNCR. Sterling Capital Management LLC boosted its stake in Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,040 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Xencor during the 4th quarter valued at approximately $34,000. PNC Financial Services Group Inc. lifted its stake in shares of Xencor by 49.4% during the 4th 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 in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Xencor during the 4th quarter valued at approximately $101,000. Finally, GAMMA Investing LLC lifted its stake in shares of Xencor by 348.5% during the 1st quarter. GAMMA Investing LLC now owns 9,629 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 7,482 shares in the last quarter.

Xencor Trading Up 1.1%

Shares of NASDAQ XNCR opened at $9.20 on Wednesday. Xencor, Inc. has a 1 year low of $7.16 and a 1 year high of $27.24. The stock has a market cap of $654.76 million, a P/E ratio of -3.01 and a beta of 0.85. The firm has a 50-day moving average of $8.50 and a 200 day moving average of $12.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.89 and a quick ratio of 5.89.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.06). The company had revenue of $32.73 million during the quarter, compared to the consensus estimate of $23.44 million. Xencor had a negative return on equity of 31.94% and a negative net margin of 181.17%. The business’s revenue was up 104.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.11) earnings per share. As a group, sell-side analysts expect that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard J. Ranieri sold 2,993 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the transaction, the director owned 19,183 shares of the company’s stock, valued at approximately $176,867.26. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Valente sold 4,616 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $11.03, for a total transaction of $50,914.48. Following the completion of the sale, the executive vice president owned 49,169 shares in the company, valued at $542,334.07. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,810 shares of company stock worth $154,123 over the last ninety days. Company insiders own 5.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on XNCR. Barclays decreased their price target on shares of Xencor from $22.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, May 8th. Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Xencor in a report on Wednesday, April 30th. Finally, William Blair began coverage on shares of Xencor in a report on Monday, April 21st. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

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.