Xencor, Inc. (NASDAQ:XNCR) Position Lowered by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its holdings in Xencor, Inc. (NASDAQ:XNCR) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,898 shares of the biopharmaceutical company’s stock after selling 2,306 shares during the period. Baillie Gifford & Co.’s holdings in Xencor were worth $480,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of XNCR. Point72 Asset Management L.P. increased its stake in shares of Xencor by 147.3% in the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after purchasing an additional 1,858,440 shares during the period. Geode Capital Management LLC boosted its stake in Xencor by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after purchasing an additional 17,658 shares during the period. Baker BROS. Advisors LP boosted its stake in Xencor by 22.9% in the 3rd quarter. Baker BROS. Advisors LP now owns 670,431 shares of the biopharmaceutical company’s stock worth $13,482,000 after purchasing an additional 125,000 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Xencor by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,988 shares of the biopharmaceutical company’s stock worth $12,609,000 after purchasing an additional 40,788 shares during the period. Finally, RTW Investments LP acquired a new stake in shares of Xencor during the 3rd quarter valued at $11,563,000.

Analysts Set New Price Targets

XNCR has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company began coverage on shares of Xencor in a report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. Finally, Wedbush restated an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Xencor presently has a consensus rating of “Buy” and a consensus price target of $34.88.

Xencor Price Performance

Shares of NASDAQ:XNCR opened at $16.22 on Wednesday. The firm has a 50 day moving average of $21.09 and a 200-day moving average of $20.79. The stock has a market capitalization of $1.14 billion, a PE ratio of -5.07 and a beta of 0.70. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor, Inc. has a 12 month low of $15.31 and a 12 month high of $27.24.

Insider Activity at Xencor

In related news, CEO Bassil I. Dahiyat sold 49,278 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at $8,487,443.05. The trade was a 12.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Bruce Montgomery sold 13,301 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.03, for a total transaction of $359,526.03. Following the transaction, the director now owns 9,140 shares in the company, valued at approximately $247,054.20. The trade was a 59.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,000 shares of company stock valued at $1,584,057. 5.23% of the stock is owned by insiders.

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.