Rhenman & Partners Asset Management AB Decreases Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Rhenman & Partners Asset Management AB lowered its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 3.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 195,750 shares of the biopharmaceutical company’s stock after selling 8,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Xencor were worth $4,498,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in XNCR. Vanguard Group Inc. lifted its position in 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 purchasing an additional 418,040 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of 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 buying an additional 192,080 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Xencor by 12.3% during the 4th quarter. Geode Capital Management LLC now owns 1,634,876 shares of the biopharmaceutical company’s stock valued at $37,578,000 after buying an additional 179,526 shares during the period. Norges Bank purchased a new position in Xencor in the fourth quarter worth about $3,397,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Xencor during the 4th quarter valued at about $2,329,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Xencor currently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

Xencor Stock Down 2.6 %

Shares of XNCR stock opened at $8.69 on Friday. Xencor, Inc. has a 52 week low of $8.45 and a 52 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’s fifty day simple moving average is $14.51 and its two-hundred day simple moving average is $19.70. The stock has a market cap of $612.31 million, a P/E ratio of -2.72 and a beta of 0.90.

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