Baillie Gifford & Co. Lowers Stock Holdings in Xencor, Inc. (NASDAQ:XNCR)

Baillie Gifford & Co. trimmed its position in Xencor, Inc. (NASDAQ:XNCR) by 9.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,898 shares of the biopharmaceutical company’s stock after selling 2,306 shares during the period. Baillie Gifford & Co.’s holdings in Xencor were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. raised its stake in Xencor by 147.3% in the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Xencor by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after purchasing an additional 17,658 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Xencor by 22.9% in the third quarter. Baker BROS. Advisors LP now owns 670,431 shares of the biopharmaceutical company’s stock worth $13,482,000 after purchasing an additional 125,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Xencor by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 626,988 shares of the biopharmaceutical company’s stock valued at $12,609,000 after acquiring an additional 40,788 shares in the last quarter. Finally, RTW Investments LP bought a new stake in Xencor in the third quarter valued at $11,563,000.

Xencor Price Performance

Shares of XNCR stock opened at $16.22 on Wednesday. Xencor, Inc. has a 1-year low of $15.31 and a 1-year high of $27.24. The stock’s 50-day moving average is $21.09 and its 200 day moving average is $20.79. The company has a market cap of $1.14 billion, a P/E ratio of -5.07 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Wells Fargo & Company assumed coverage on Xencor in a research report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets restated an “outperform” rating and set a $34.00 price target (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $34.88.

Insider Transactions at Xencor

In other Xencor news, Director Alan Bruce Montgomery sold 13,301 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.03, for a total value of $359,526.03. Following the completion of the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 59.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total value of $1,186,121.46. Following the completion of the sale, the chief executive officer now owns 352,615 shares of the company’s stock, valued at $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,000 shares of company stock worth $1,584,057. Insiders own 5.23% of the company’s stock.

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.