abrdn plc Makes New $3.73 Million Investment in Xencor, Inc. (NASDAQ:XNCR)

abrdn plc bought a new stake in shares of Xencor, Inc. (NASDAQ:XNCR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 175,520 shares of the biopharmaceutical company’s stock, valued at approximately $3,726,000. abrdn plc owned 0.29% of Xencor as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of XNCR. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Xencor by 13.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,215 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 1,640 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Xencor in the 4th quarter valued at $648,000. Mutual of America Capital Management LLC increased its holdings in Xencor by 74.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 99,335 shares of the biopharmaceutical company’s stock worth $2,109,000 after acquiring an additional 42,364 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Xencor by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,798 shares of the biopharmaceutical company’s stock worth $654,000 after acquiring an additional 615 shares during the period. Finally, Allworth Financial LP lifted its holdings in Xencor by 29,487.5% during the fourth quarter. Allworth Financial LP now owns 2,367 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 2,359 shares in the last quarter.

Insider Buying and Selling

In other Xencor news, CEO Bassil I. Dahiyat sold 12,528 shares of Xencor stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total value of $293,531.04. Following the sale, the chief executive officer now owns 300,097 shares in the company, valued at $7,031,272.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Bassil I. Dahiyat sold 2,741 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $23.50, for a total value of $64,413.50. Following the transaction, the chief executive officer now directly owns 351,894 shares in the company, valued at approximately $8,269,509. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total transaction of $293,531.04. Following the transaction, the chief executive officer now directly owns 300,097 shares of the company’s stock, valued at approximately $7,031,272.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,351 shares of company stock worth $2,152,417. Company insiders own 4.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Xencor in a research note on Wednesday, February 28th. BMO Capital Markets reduced their price objective on Xencor from $38.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Mizuho lowered their target price on shares of Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, January 22nd. Wedbush reduced their target price on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $24.00 price target (down from $37.00) on shares of Xencor in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Xencor Trading Up 3.9 %

Shares of XNCR opened at $19.98 on Monday. Xencor, Inc. has a 12-month low of $16.49 and a 12-month high of $28.96. The firm has a 50-day moving average price of $22.02 and a 200 day moving average price of $20.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.36 and a quick ratio of 7.36.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.67). The firm had revenue of $44.70 million during the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The business’s quarterly revenue was up 106.9% on a year-over-year basis. During the same period last year, the company earned ($0.20) EPS. On average, sell-side analysts expect that Xencor, Inc. will post -3.25 earnings per share for the current fiscal year.

Xencor Company 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.