RTW Investments LP Takes $11.56 Million Position in Xencor, Inc. (NASDAQ:XNCR)

RTW Investments LP acquired a new stake in shares of Xencor, Inc. (NASDAQ:XNCR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 575,000 shares of the biopharmaceutical company’s stock, valued at approximately $11,563,000. RTW Investments LP owned approximately 0.82% of Xencor as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Xencor in the second quarter worth about $36,000. KBC Group NV grew its position in Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares in the last quarter. SG Americas Securities LLC purchased a new position in Xencor in the second quarter worth about $154,000. XTX Topco Ltd purchased a new position in Xencor in the second quarter worth about $196,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Xencor in the third quarter worth about $205,000.

Xencor Trading Down 1.5 %

Xencor stock opened at $26.20 on Thursday. Xencor, Inc. has a fifty-two week low of $15.31 and a fifty-two week 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. The company has a 50 day moving average price of $22.31 and a 200-day moving average price of $20.60.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. Xencor’s revenue for the quarter was down 81.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. On average, equities research analysts forecast that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Buying and Selling

In other Xencor news, Director Alan Bruce Montgomery sold 13,301 shares of Xencor stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.03, for a total value of $359,526.03. Following the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 59.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bassil I. Dahiyat sold 3,366 shares of Xencor stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total transaction of $80,851.32. Following the completion of the transaction, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,050 shares of company stock valued at $3,277,609 over the last 90 days. Corporate insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on XNCR. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their price objective on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $30.00 in a research note on Monday. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Xencor has a consensus rating of “Buy” and an average target price of $36.50.

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.