49,696 Shares in Xencor, Inc. $XNCR Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in Xencor, Inc. (NASDAQ:XNCR) in the second quarter, Holdings Channel reports. The fund acquired 49,696 shares of the biopharmaceutical company’s stock, valued at approximately $800,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Xencor during the 2nd quarter worth approximately $219,785,000. BVF Inc. IL boosted its stake in shares of Xencor by 160.3% in the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after buying an additional 4,393,579 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Xencor by 603.7% in the third quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock valued at $14,932,000 after acquiring an additional 1,092,095 shares in the last quarter. State Street Corp increased its position in shares of Xencor by 22.7% during the fourth quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock valued at $69,006,000 after acquiring an additional 833,423 shares during the last quarter. Finally, Johnson & Johnson purchased a new stake in shares of Xencor during the second quarter valued at approximately $12,043,798.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wedbush lifted their price target on Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Cantor Fitzgerald raised their target price on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Truist Financial cut their price target on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Finally, Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

Xencor Trading Down 0.0%

Xencor stock opened at $26.61 on Friday. The business’s 50 day simple moving average is $21.06 and its 200 day simple moving average is $15.30. Xencor, Inc. has a 12 month low of $8.19 and a 12 month high of $30.61. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -12.26 and a beta of 0.88.

Xencor (NASDAQ:XNCR) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. The business had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the business posted ($0.41) earnings per share. As a group, equities research analysts forecast that Xencor, Inc. will post -3 earnings per share for the current fiscal year.

About Xencor

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.