Silvercrest Asset Management Group LLC Cuts Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Silvercrest Asset Management Group LLC decreased its holdings in shares of Xencor, Inc. (NASDAQ:XNCR) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,743 shares of the biopharmaceutical company’s stock after selling 1,419 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.21% of Xencor worth $3,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of XNCR. Sterling Capital Management LLC grew its holdings in shares of Xencor by 732.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,040 shares in the last quarter. KBC Group NV boosted its stake in Xencor by 26.0% in the fourth quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock worth $90,000 after buying an additional 813 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Xencor by 49.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 1,337 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Xencor by 22.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 1,282 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Xencor by 132.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,865 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 4,482 shares in the last quarter.

Xencor Price Performance

Shares of Xencor stock opened at $8.06 on Tuesday. 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 market cap of $573.64 million, a PE ratio of -2.52 and a beta of 0.99. The business has a 50 day moving average of $10.08 and a 200 day moving average of $17.06. Xencor, Inc. has a 52 week low of $7.16 and a 52 week high of $27.24.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.06). The company had revenue of $32.73 million for the quarter, compared to analysts’ expectations of $23.44 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm’s revenue for the quarter was up 104.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.11) earnings per share. As a group, equities research analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com lowered Xencor from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. William Blair assumed coverage on Xencor in a research note on Monday, April 21st. They issued an “outperform” rating for the company. Wells Fargo & Company cut their target price on Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Barclays lowered their price objective on Xencor from $22.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, May 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $31.00 price objective on shares of Xencor in a research report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Insider Buying and Selling at Xencor

In other Xencor news, EVP Nancy Valente sold 4,616 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $11.03, for a total transaction of $50,914.48. Following the transaction, the executive vice president now directly owns 49,169 shares of the company’s stock, valued at approximately $542,334.07. The trade was a 8.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.76% of the company’s stock.

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.