The Manufacturers Life Insurance Company Acquires 22,107 Shares of Xencor, Inc. (NASDAQ:XNCR)

The Manufacturers Life Insurance Company lifted its holdings in Xencor, Inc. (NASDAQ:XNCR) by 22.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,988 shares of the biopharmaceutical company’s stock after acquiring an additional 22,107 shares during the period. The Manufacturers Life Insurance Company owned 0.19% of Xencor worth $2,271,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Diversified Trust Co lifted its holdings in shares of Xencor by 4.5% in the 1st quarter. Diversified Trust Co now owns 13,059 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 563 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in Xencor by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company’s stock worth $1,179,000 after purchasing an additional 690 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Xencor by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock worth $826,000 after purchasing an additional 699 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Xencor by 3.3% in the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after purchasing an additional 744 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Xencor by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 900 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their price objective on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Raymond James decreased their price objective on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. Wedbush reaffirmed an “outperform” rating and set a $34.00 price target on shares of Xencor in a research note on Monday, September 9th. Finally, Royal Bank of Canada lifted their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Xencor has an average rating of “Moderate Buy” and an average target price of $34.78.

Xencor Stock Performance

Shares of XNCR stock opened at $19.65 on Thursday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -8.97 and a beta of 0.67. The company’s 50 day moving average is $18.47 and its 200 day moving average is $20.14. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02. Xencor, Inc. has a 52-week low of $15.31 and a 52-week high of $26.84.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25). The business had revenue of $16.96 million for the quarter, compared to analysts’ expectations of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The business’s quarterly revenue was down 62.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.37) earnings per share. On average, sell-side analysts anticipate that Xencor, Inc. will post -4.15 EPS 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.