Primecap Management Co. CA Invests $163.92 Million in Xencor, Inc. $XNCR

Primecap Management Co. CA bought a new stake in Xencor, Inc. (NASDAQ:XNCR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,181,322 shares of the biopharmaceutical company’s stock, valued at approximately $163,919,000. Primecap Management Co. CA owned 0.14% of Xencor as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 3,018 shares during the period. Allworth Financial LP acquired a new stake in shares of Xencor in the second quarter valued at approximately $55,000. E Fund Management Co. Ltd. acquired a new stake in shares of Xencor in the second quarter valued at approximately $79,000. iSAM Funds UK Ltd bought a new position in shares of Xencor during the 2nd quarter worth approximately $122,000. Finally, Prelude Capital Management LLC bought a new position in shares of Xencor during the 3rd quarter worth approximately $139,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Royal Bank Of Canada lifted their price objective on shares of Xencor from $19.00 to $20.00 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 report on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Truist Financial cut their target price on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.86.

Xencor Trading Up 1.0%

Shares of NASDAQ XNCR opened at $29.30 on Wednesday. The firm has a market cap of $2.18 billion, a P/E ratio of -13.50 and a beta of 0.85. Xencor, Inc. has a 1-year low of $7.71 and a 1-year high of $30.61. The business’s 50 day moving average is $18.90 and its 200-day moving average is $14.45.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (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 the consensus estimate of $18.89 million. During the same period in the previous year, the company posted ($0.41) EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts forecast that Xencor, Inc. will post -3 EPS for the current 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.