Thrivent Financial for Lutherans Boosts Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Thrivent Financial for Lutherans boosted its stake in shares of Xencor, Inc. (NASDAQ:XNCR) by 127.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,369 shares of the biopharmaceutical company’s stock after purchasing an additional 65,180 shares during the period. Thrivent Financial for Lutherans’ holdings in Xencor were worth $2,340,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in XNCR. Quarry LP acquired a new position in Xencor during the 2nd quarter worth $36,000. KBC Group NV raised its position in shares of Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 1,213 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Xencor in the 2nd quarter worth approximately $154,000. XTX Topco Ltd purchased a new position in shares of Xencor in the second quarter worth approximately $196,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Xencor in the second quarter worth approximately $212,000.

Insider Buying and Selling

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the completion of the transaction, the vice president now directly owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total value of $1,186,121.46. Following the transaction, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at approximately $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,328 shares of company stock valued at $2,879,673. 5.23% of the stock is owned by company insiders.

Xencor Price Performance

Shares of XNCR opened at $25.62 on Thursday. Xencor, Inc. has a 12-month low of $15.31 and a 12-month high of $26.84. The business has a 50-day simple moving average of $21.65 and a two-hundred day simple moving average of $20.41. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.79 billion, a PE ratio of -7.91 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the prior year, the company earned ($0.40) EPS. The firm’s revenue for the quarter was down 81.9% compared to the same quarter last year. Analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Xencor has an average rating of “Moderate Buy” and a consensus target price of $35.75.

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.