RA Capital Management L.P. Invests $11.56 Million in Xencor, Inc. (NASDAQ:XNCR)

RA Capital Management L.P. bought a new position in shares of Xencor, Inc. (NASDAQ:XNCR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 575,000 shares of the biopharmaceutical company’s stock, valued at approximately $11,563,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Linden Thomas Advisory Services LLC raised its position in shares of Xencor by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock worth $826,000 after acquiring an additional 699 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Xencor by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after acquiring an additional 744 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Xencor by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock worth $587,000 after acquiring an additional 900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Xencor by 8.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 949 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Xencor by 7.8% during the 2nd quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 1,017 shares in the last quarter.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total value of $1,186,121.46. Following the completion of the transaction, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at approximately $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is owned by corporate insiders.

Xencor Price Performance

Xencor stock opened at $26.20 on Thursday. The stock’s 50 day moving average price is $22.31 and its 200 day moving average price is $20.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. Xencor, Inc. has a 1-year low of $15.31 and a 1-year high of $27.24.

Xencor (NASDAQ:XNCR) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. Xencor’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. Equities analysts anticipate that Xencor, Inc. will post -3.71 EPS for the current year.

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.