Illinois Municipal Retirement Fund Buys 6,802 Shares of Xencor, Inc. (NASDAQ:XNCR)

Illinois Municipal Retirement Fund increased its stake in Xencor, Inc. (NASDAQ:XNCR) by 25.8% in the 4th quarter, Holdings Channel reports. The fund owned 33,198 shares of the biopharmaceutical company’s stock after buying an additional 6,802 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Xencor were worth $763,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in XNCR. Point72 Asset Management L.P. boosted its holdings in shares of Xencor by 147.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock worth $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. RTW Investments LP purchased a new stake in Xencor in the third quarter worth approximately $11,563,000. RA Capital Management L.P. bought a new position in Xencor during the third quarter valued at approximately $11,563,000. Braidwell LP purchased a new position in shares of Xencor during the third quarter worth approximately $9,380,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Xencor during the third quarter worth approximately $7,087,000.

Insider Activity

In related news, Director Alan Bruce Montgomery sold 1,421 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at $247,054.20. This represents a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.23% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on XNCR. Wells Fargo & Company reduced their target price on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised their price objective on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. BMO Capital Markets restated an “outperform” rating and set a $34.00 target price (up from $32.00) on shares of Xencor in a report on Friday, November 8th. Finally, Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Xencor presently has an average rating of “Moderate Buy” and an average target price of $34.38.

Xencor Trading Down 5.9 %

NASDAQ XNCR opened at $14.46 on Tuesday. The stock has a market cap of $1.01 billion, a P/E ratio of -4.52 and a beta of 0.70. Xencor, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $27.24. The stock has a 50 day simple moving average of $19.23 and a two-hundred day simple moving average of $20.69. 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 announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. The company had revenue of $52.79 million during the quarter, compared to analyst estimates of $17.14 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. On average, analysts forecast that Xencor, Inc. will post -3.68 earnings per share 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.