PNC Financial Services Group Inc. Raises Position in Xencor, Inc. (NASDAQ:XNCR)

PNC Financial Services Group Inc. boosted its holdings in Xencor, Inc. (NASDAQ:XNCR) by 49.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,041 shares of the biopharmaceutical company’s stock after purchasing an additional 1,337 shares during the period. PNC Financial Services Group Inc.’s holdings in Xencor were worth $93,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Xencor in the fourth quarter worth $2,329,000. Arizona State Retirement System increased its position in shares of Xencor by 13.3% in the fourth quarter. Arizona State Retirement System now owns 18,190 shares of the biopharmaceutical company’s stock valued at $418,000 after acquiring an additional 2,132 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Xencor by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 630,640 shares of the biopharmaceutical company’s stock valued at $14,492,000 after acquiring an additional 3,652 shares during the period. Mutual of America Capital Management LLC purchased a new stake in shares of Xencor during the fourth quarter worth about $244,000. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Xencor by 13.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,512 shares of the biopharmaceutical company’s stock worth $379,000 after purchasing an additional 2,000 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. Wells Fargo & Company dropped their price target on Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com cut shares of Xencor from a “hold” rating to a “sell” rating in a report on Friday, March 14th. One equities research 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

Xencor Trading Down 8.7 %

NASDAQ XNCR opened at $11.82 on Wednesday. The firm has a market capitalization of $832.86 million, a PE ratio of -3.69 and a beta of 0.74. The stock’s 50 day moving average is $16.07 and its 200 day moving average is $20.27. Xencor, Inc. has a twelve month low of $11.64 and a twelve month high of $27.24. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.19. The firm had revenue of $52.79 million for the quarter, compared to analysts’ expectations of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. Research analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

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.