13,651,261 Shares in Xencor, Inc. $XNCR Acquired by BlackRock Inc.

BlackRock Inc. bought a new stake in Xencor, Inc. (NASDAQ:XNCR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,651,261 shares of the biopharmaceutical company’s stock, valued at approximately $219,785,000. BlackRock Inc. owned 0.18% of Xencor at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in shares of Xencor by 6.5% during the fourth quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 1,026 shares in the last quarter. Cerity Partners LLC raised its position in shares of Xencor by 3.8% during the 4th quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $479,000 after buying an additional 1,143 shares in the last quarter. State of Tennessee Department of Treasury lifted its stake in shares of Xencor by 6.2% in the 2nd quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 1,784 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Xencor by 3.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company’s stock valued at $550,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Xencor by 118.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 3,018 shares in the last quarter.

Xencor Stock Performance

Xencor stock opened at $28.88 on Friday. Xencor, Inc. has a twelve month low of $7.83 and a twelve month high of $30.61. The firm has a market cap of $2.15 billion, a PE ratio of -13.31 and a beta of 0.85. The firm’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $14.69.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The business had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. During the same quarter in the previous year, the business posted ($0.41) EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts anticipate that Xencor, Inc. will post -3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush upped their target price on Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Cantor Fitzgerald upped their price target on shares of Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Truist Financial lowered their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Xencor currently has a consensus rating of “Hold” and an average target price of $24.86.

Xencor Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.