American Century Companies Inc. reduced its position in shares of Xencor Inc (NASDAQ:XNCR) by 76.5% during the first quarter, Holdings Channel reports. The institutional investor owned 9,913 shares of the biopharmaceutical company’s stock after selling 32,295 shares during the period. American Century Companies Inc.’s holdings in Xencor were worth $237,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Oberweis Asset Management Inc. acquired a new position in Xencor during the fourth quarter valued at $211,000. Algert Global LLC acquired a new position in Xencor during the first quarter valued at $284,000. Dynamic Technology Lab Private Ltd acquired a new position in Xencor during the fourth quarter valued at $370,000. Tocqueville Asset Management L.P. acquired a new position in Xencor during the first quarter valued at $388,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Xencor by 5.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,914 shares of the biopharmaceutical company’s stock valued at $656,000 after buying an additional 1,227 shares during the period. Hedge funds and other institutional investors own 64.14% of the company’s stock.
Xencor Inc (NASDAQ XNCR) opened at 20.78 on Friday. The company has a market cap of $970.49 million, a price-to-earnings ratio of 58.87 and a beta of 2.21. Xencor Inc has a 52-week low of $12.51 and a 52-week high of $29.38. The stock’s 50 day moving average is $22.84 and its 200 day moving average is $24.11.
Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.06. The firm had revenue of $4.34 million during the quarter, compared to analyst estimates of $8.15 million. Xencor had a negative return on equity of 19.01% and a negative net margin of 337.21%. Equities research analysts forecast that Xencor Inc will post ($1.21) earnings per share for the current year.
XNCR has been the subject of several research reports. Zacks Investment Research upgraded shares of Xencor from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Saturday, March 4th. Instinet initiated coverage on shares of Xencor in a research report on Wednesday, March 1st. They set a “neutral” rating and a $21.00 price objective for the company. Nomura initiated coverage on shares of Xencor in a research report on Wednesday, March 1st. They set a “neutral” rating for the company. Finally, Wedbush restated an “outperform” rating and set a $29.00 price objective on shares of Xencor in a research report on Tuesday, June 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.67.
In related news, Director Bruce L. A. Carter sold 2,366 shares of Xencor stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $22.00, for a total value of $52,052.00. Following the completion of the sale, the director now directly owns 68,578 shares in the company, valued at $1,508,716. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Edgardo Baracchini, Jr. sold 10,568 shares of Xencor stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $26.01, for a total value of $274,873.68. Following the completion of the sale, the insider now owns 9,818 shares of the company’s stock, valued at $255,366.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,238 shares of company stock valued at $991,922. Corporate insiders own 4.03% of the company’s stock.
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. It has developed two clinical-stage product candidates, using its Immune Inhibitor Fc platform: XmAb5871, which is in two Phase II trials and is being developed for autoimmune disease, and XmAb7195, which is in a Phase I trial and is being developed for asthma and allergic diseases.
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