Primecap Management Co. CA Decreases Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Primecap Management Co. CA trimmed its position in shares of Xencor, Inc. (NASDAQ:XNCR) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,984,432 shares of the biopharmaceutical company’s stock after selling 152,763 shares during the period. Primecap Management Co. CA owned approximately 12.84% of Xencor worth $206,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Swiss National Bank raised its holdings in shares of Xencor by 3.0% during the 4th quarter. Swiss National Bank now owns 123,600 shares of the biopharmaceutical company’s stock worth $2,840,000 after acquiring an additional 3,600 shares in the last quarter. Amundi raised its holdings in Xencor by 225.0% during the 4th quarter. Amundi now owns 35,380 shares of the biopharmaceutical company’s stock valued at $829,000 after buying an additional 24,494 shares during the period. PNC Financial Services Group Inc. raised its holdings in Xencor by 49.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 1,337 shares during the period. Raymond James Financial Inc. purchased a new stake in Xencor during the 4th quarter valued at $2,329,000. Finally, Arizona State Retirement System raised its holdings in Xencor by 13.3% during the 4th quarter. Arizona State Retirement System now owns 18,190 shares of the biopharmaceutical company’s stock valued at $418,000 after buying an additional 2,132 shares during the period.

Xencor Price Performance

XNCR opened at $12.98 on Tuesday. Xencor, Inc. has a 12-month low of $12.69 and a 12-month high of $27.24. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $17.14 and its 200-day simple moving average is $20.44. The company has a market capitalization of $914.60 million, a price-to-earnings ratio of -4.06 and a beta of 0.74.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $52.79 million for the quarter, compared to the consensus estimate of $17.14 million. On average, equities research analysts anticipate that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

XNCR has been the topic of several recent research reports. StockNews.com lowered Xencor from a “hold” rating to a “sell” rating in a report on Friday. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $30.00 in a report on Monday, December 2nd. Finally, Wells Fargo & Company decreased their price target on Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.38.

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.