Charles Schwab Investment Management Inc. Grows Position in Xencor, Inc. (NASDAQ:XNCR)

Charles Schwab Investment Management Inc. increased its holdings in Xencor, Inc. (NASDAQ:XNCR) by 7.0% in the 3rd quarter, Holdings Channel reports. The fund owned 626,988 shares of the biopharmaceutical company’s stock after buying an additional 40,788 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Xencor were worth $12,609,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Xencor during the 2nd quarter valued at about $154,000. Diversified Trust Co increased its holdings in Xencor by 7.8% in the 2nd quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 1,017 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Xencor by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock worth $587,000 after buying an additional 900 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Xencor by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock valued at $445,000 after acquiring an additional 744 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Xencor by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 500,708 shares of the biopharmaceutical company’s stock valued at $9,478,000 after purchasing an additional 15,974 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently commented on XNCR. Royal Bank of Canada upped their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. JPMorgan Chase & Co. boosted their price target on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $34.00 price objective (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Xencor has a consensus rating of “Buy” and a consensus target price of $36.50.

Xencor Stock Performance

XNCR opened at $25.34 on Monday. The company has a fifty day moving average of $22.51 and a 200 day moving average of $20.60. Xencor, Inc. has a fifty-two week low of $15.31 and a fifty-two week high of $27.24. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.92 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. During the same period in the previous year, the firm posted ($0.40) EPS. The business’s quarterly revenue was down 81.9% on a year-over-year basis. As a group, sell-side analysts forecast that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

Insider Activity at Xencor

In other news, VP John R. Desjarlais sold 68,684 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total value of $1,186,121.46. Following the completion of the sale, the chief executive officer now owns 352,615 shares in the company, valued at approximately $8,487,443.05. The trade was a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,050 shares of company stock worth $3,277,609. Company insiders own 5.23% of the company’s stock.

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.