AQR Capital Management LLC Takes Position in Xencor, Inc. (NASDAQ:XNCR)

AQR Capital Management LLC purchased a new position in shares of Xencor, Inc. (NASDAQ:XNCR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 39,791 shares of the biopharmaceutical company’s stock, valued at approximately $753,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Xencor by 153.7% in the 1st quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 1,316 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Xencor during the second quarter worth $154,000. XTX Topco Ltd purchased a new position in Xencor in the 2nd quarter valued at $196,000. Acadian Asset Management LLC purchased a new position in Xencor during the 1st quarter worth $206,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Xencor in the 2nd quarter worth $212,000.

Analysts Set New Price Targets

A number of brokerages recently commented on XNCR. JPMorgan Chase & Co. reduced their price objective on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Xencor in a report on Tuesday, August 6th. Wedbush reissued an “outperform” rating and issued a $34.00 target price on shares of Xencor in a report on Monday, September 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.78.

Xencor Price Performance

XNCR stock opened at $21.29 on Monday. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $26.84. The stock’s fifty day simple moving average is $18.53 and its 200-day simple moving average is $20.13. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -9.72 and a beta of 0.67.

Xencor (NASDAQ:XNCR) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). The firm had revenue of $16.96 million for the quarter, compared to analysts’ expectations of $21.13 million. Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The firm’s revenue for the quarter was down 62.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.37) EPS. Equities research analysts expect that Xencor, Inc. will post -4.15 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.