Pictet Asset Management Holding SA Invests $247,000 in Xencor, Inc. (NASDAQ:XNCR)

Pictet Asset Management Holding SA acquired a new stake in shares of Xencor, Inc. (NASDAQ:XNCR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,740 shares of the biopharmaceutical company’s stock, valued at approximately $247,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Xencor during the fourth quarter valued at $3,397,000. Loomis Sayles & Co. L P increased its stake in Xencor by 21.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,092,346 shares of the biopharmaceutical company’s stock valued at $25,102,000 after purchasing an additional 192,080 shares in the last quarter. Prudential Financial Inc. raised its holdings in Xencor by 10.7% in the fourth quarter. Prudential Financial Inc. now owns 70,715 shares of the biopharmaceutical company’s stock worth $1,625,000 after buying an additional 6,810 shares during the last quarter. Corebridge Financial Inc. lifted its stake in shares of Xencor by 5.1% in the fourth quarter. Corebridge Financial Inc. now owns 35,946 shares of the biopharmaceutical company’s stock worth $826,000 after buying an additional 1,743 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Xencor by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company’s stock valued at $184,239,000 after buying an additional 418,040 shares during the last quarter.

Xencor Stock Down 10.1 %

Xencor stock opened at $7.92 on Friday. The stock has a market cap of $558.06 million, a PE ratio of -2.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The stock has a fifty day moving average of $13.26 and a 200 day moving average of $19.17. Xencor, Inc. has a one year low of $7.16 and a one year high of $27.24.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that Xencor, Inc. will post -3.68 EPS for the current year.

Wall Street Analyst Weigh In

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

About Xencor

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.