The Manufacturers Life Insurance Company Sells 9,343 Shares of Xencor, Inc. (NASDAQ:XNCR)

The Manufacturers Life Insurance Company trimmed its position in Xencor, Inc. (NASDAQ:XNCR) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,373 shares of the biopharmaceutical company’s stock after selling 9,343 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Xencor were worth $2,307,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in shares of Xencor by 732.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,040 shares during the last quarter. GAMMA Investing LLC grew its position in Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 508 shares during the last quarter. KBC Group NV raised its stake in Xencor by 26.0% during the fourth quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 813 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,337 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Xencor by 22.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 1,282 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, EVP Nancy Valente sold 4,616 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $11.03, for a total transaction of $50,914.48. Following the completion of the sale, the executive vice president now directly owns 49,169 shares of the company’s stock, valued at $542,334.07. The trade was a 8.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.76% of the stock is owned by company insiders.

Xencor Price Performance

Xencor stock opened at $8.33 on Friday. The stock’s 50 day moving average is $10.73 and its 200 day moving average is $17.63. Xencor, Inc. has a one year low of $7.16 and a one year high of $27.24. The firm has a market cap of $592.70 million, a P/E ratio of -2.60 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results 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 firm had revenue of $32.73 million during the quarter, compared to analyst estimates of $23.44 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The firm’s revenue for the quarter was up 104.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.11) EPS. As a group, research analysts expect that Xencor, Inc. will post -3.68 EPS for the current year.

Xencor Profile

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.