BNP Paribas Financial Markets Has $269,000 Stake in Xencor, Inc. (NASDAQ:XNCR)

BNP Paribas Financial Markets lowered its position in Xencor, Inc. (NASDAQ:XNCR) by 7.5% in the third quarter, HoldingsChannel.com reports. The fund owned 13,357 shares of the biopharmaceutical company’s stock after selling 1,084 shares during the quarter. BNP Paribas Financial Markets’ holdings in Xencor were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in Xencor during the second quarter worth approximately $36,000. KBC Group NV boosted its stake in shares of Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares during the period. SG Americas Securities LLC acquired a new position in shares of Xencor during the 2nd quarter worth approximately $154,000. XTX Topco Ltd acquired a new position in shares of Xencor during the 2nd quarter worth approximately $196,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Xencor in the 2nd quarter valued at $212,000.

Xencor Price Performance

Xencor stock opened at $24.03 on Monday. The stock has a 50-day moving average price of $23.03 and a two-hundred day moving average price of $20.64. Xencor, Inc. has a 12 month low of $15.31 and a 12 month high of $27.24. The company has a market capitalization of $1.68 billion, a PE ratio of -7.51 and a beta of 0.69. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. During the same period in the prior year, the business posted ($0.40) earnings per share. Xencor’s quarterly revenue was down 81.9% on a year-over-year basis. Analysts expect that Xencor, Inc. will post -3.71 EPS for the current year.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 68,684 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the transaction, the vice president now owns 200,104 shares in the company, valued at $4,698,441.92. The trade was a 25.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total transaction of $38,409.63. Following the sale, the director now directly owns 9,140 shares in the company, valued at $247,054.20. This trade represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,050 shares of company stock valued at $3,277,609 over the last ninety days. 5.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Xencor in a report on Thursday, November 7th. Wells Fargo & Company started coverage on shares of Xencor in a research report on Thursday. They set an “overweight” rating and a $37.00 price objective for the company. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and upped their target price for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $36.56.

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.