Bank of New York Mellon Corp increased its position in shares of Xencor Inc. (NASDAQ:XNCR) by 5.5% during the second quarter, Holdings Channel reports. The institutional investor owned 132,627 shares of the biopharmaceutical company’s stock after buying an additional 6,965 shares during the period. Bank of New York Mellon Corp owned about 0.33% of Xencor worth $2,519,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of XNCR. Strs Ohio raised its stake in Xencor by 301.1% in the second quarter. Strs Ohio now owns 36,500 shares of the biopharmaceutical company’s stock worth $693,000 after buying an additional 27,400 shares during the period. Acadian Asset Management LLC acquired a new stake in Xencor during the second quarter worth $1,317,000. Deerfield Management Co. raised its stake in Xencor by 175.9% in the first quarter. Deerfield Management Co. now owns 3,467,512 shares of the biopharmaceutical company’s stock worth $46,534,000 after buying an additional 2,210,900 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Xencor by 5.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 21,213 shares of the biopharmaceutical company’s stock worth $285,000 after buying an additional 1,026 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Xencor during the first quarter worth $1,303,000. 67.44% of the stock is owned by hedge funds and other institutional investors.
Xencor Inc. (NASDAQ:XNCR) traded up 0.12% during mid-day trading on Monday, reaching $24.52. 133,284 shares of the company were exchanged. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 26.06 and a beta of 2.10. Xencor Inc. has a 1-year low of $9.89 and a 1-year high of $26.50. The stock’s 50-day moving average price is $22.70 and its 200-day moving average price is $16.99.
Xencor (NASDAQ:XNCR) last issued its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.31. Xencor had a return on equity of 22.53% and a net margin of 39.07%. The business earned $66 million during the quarter, compared to the consensus estimate of $7.43 million. On average, equities research analysts anticipate that Xencor Inc. will post $0.72 EPS for the current fiscal year.
A number of analysts recently weighed in on XNCR shares. Wedbush reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Xencor in a research note on Tuesday, June 28th. Zacks Investment Research raised shares of Xencor from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, July 5th. Canaccord Genuity set a $27.00 price objective on shares of Xencor and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Xencor in a research note on Wednesday, June 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $23.50.
In other Xencor news, major shareholder John S. Stafford III sold 30,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $21.87, for a total value of $667,035.00. Following the completion of the sale, the insider now directly owns 7,500 shares of the company’s stock, valued at approximately $164,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edgardo Baracchini, Jr. sold 4,528 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $20.00, for a total value of $90,560.00. The disclosure for this sale can be found here. 4.03% of the stock is owned by company insiders.
Xencor Company Profile
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. Its segment is related to the development of pharmaceutical products. It uses its XmAb technology platform to create antibody product candidates designed to treat autoimmune and allergic diseases, cancer and other conditions.
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