Lord Abbett & CO. LLC Lowers Stake in Xencor Inc (XNCR)

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Lord Abbett & CO. LLC lessened its holdings in Xencor Inc (NASDAQ:XNCR) by 29.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 178,601 shares of the biopharmaceutical company’s stock after selling 74,010 shares during the period. Lord Abbett & CO. LLC owned about 0.32% of Xencor worth $5,354,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Redmile Group LLC lifted its position in shares of Xencor by 12.5% in the 4th quarter. Redmile Group LLC now owns 1,350,894 shares of the biopharmaceutical company’s stock worth $29,612,000 after purchasing an additional 150,600 shares during the period. Perceptive Advisors LLC lifted its position in shares of Xencor by 1.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,313,095 shares of the biopharmaceutical company’s stock worth $28,783,000 after purchasing an additional 20,000 shares during the period. BVF Inc. IL purchased a new stake in shares of Xencor in the 1st quarter worth approximately $27,042,000. ArrowMark Colorado Holdings LLC lifted its position in shares of Xencor by 32.9% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 583,491 shares of the biopharmaceutical company’s stock worth $12,790,000 after purchasing an additional 144,319 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Xencor by 7.0% in the 1st quarter. Franklin Resources Inc. now owns 576,532 shares of the biopharmaceutical company’s stock worth $17,284,000 after purchasing an additional 37,900 shares during the period. 79.56% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:XNCR opened at $40.10 on Friday. Xencor Inc has a 52 week low of $18.97 and a 52 week high of $43.39. The company has a market cap of $2.24 billion, a P/E ratio of -38.19 and a beta of 1.63.

Xencor (NASDAQ:XNCR) last posted its earnings results on Monday, May 7th. The biopharmaceutical company reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.16). Xencor had a negative net margin of 137.35% and a negative return on equity of 18.07%. equities analysts forecast that Xencor Inc will post -2.33 EPS for the current fiscal year.

In related news, major shareholder John S. Stafford III sold 92,779 shares of the stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $40.05, for a total transaction of $3,715,798.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Kuch sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $41.64, for a total transaction of $1,041,000.00. The disclosure for this sale can be found here. Insiders have sold 221,546 shares of company stock valued at $8,926,527 in the last three months. 4.70% of the stock is currently owned by corporate insiders.

Several brokerages have recently weighed in on XNCR. BTIG Research began coverage on shares of Xencor in a research report on Thursday, June 7th. They issued a “buy” rating and a $56.00 price target for the company. ValuEngine raised shares of Xencor from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 22nd. BidaskClub raised shares of Xencor from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 9th. Zacks Investment Research cut shares of Xencor from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Finally, Wedbush increased their target price on shares of Xencor from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, March 19th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.88.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody therapeutics to treat severe and life threatening diseases with unmet medical needs. It develops its antibody product candidates to treat autoimmune and allergic diseases, cancer, and other conditions.

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Institutional Ownership by Quarter for Xencor (NASDAQ:XNCR)

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