Trade Report: Today, Virginia Retirement Systems ET AL Buys New Stake in Xencor Inc. (XNCR)

Today, Virginia Retirement Systems ET AL Buys New Stake in Xencor Inc. (XNCR)

Virginia Retirement Systems ET AL acquired a new position in Xencor Inc. (NASDAQ:XNCR) during the third quarter, Holdings Channel reports. The fund acquired 14,400 shares of the biopharmaceutical company’s stock, valued at approximately $353,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its stake in Xencor by 5.0% in the second quarter. Nationwide Fund Advisors now owns 54,822 shares of the biopharmaceutical company’s stock worth $1,041,000 after buying an additional 2,615 shares during the period. Acrospire Investment Management LLC boosted its stake in Xencor by 8.5% in the second quarter. Acrospire Investment Management LLC now owns 6,347 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 495 shares during the period. Bank of New York Mellon Corp boosted its stake in Xencor by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 132,627 shares of the biopharmaceutical company’s stock worth $2,519,000 after buying an additional 6,965 shares during the period. California State Teachers Retirement System boosted its stake in Xencor by 11.9% in the second quarter. California State Teachers Retirement System now owns 67,434 shares of the biopharmaceutical company’s stock worth $1,281,000 after buying an additional 7,167 shares during the period. Finally, Swiss National Bank boosted its stake in Xencor by 13.2% in the second quarter. Swiss National Bank now owns 54,800 shares of the biopharmaceutical company’s stock worth $1,041,000 after buying an additional 6,400 shares during the period. 70.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of Xencor Inc. (NASDAQ:XNCR) traded up 1.49% during trading on Friday, hitting $27.17. 77,285 shares of the stock traded hands. The company has a market cap of $1.12 billion, a PE ratio of 27.84 and a beta of 2.20. The company has a 50 day moving average of $22.51 and a 200-day moving average of $19.65. Xencor Inc. has a 1-year low of $9.89 and a 1-year high of $27.54.

Several equities analysts have commented on the stock. Piper Jaffray Cos. assumed coverage on shares of Xencor in a research note on Tuesday, October 4th. They set an “overweight” rating and a $35.00 target price on the stock. Zacks Investment Research cut shares of Xencor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Canaccord Genuity set a $27.00 target price on shares of Xencor and gave the company a “buy” rating in a research note on Monday, November 14th. Leerink Swann reissued a “buy” rating and set a $26.00 target price on shares of Xencor in a research note on Thursday, November 3rd. Finally, TheStreet cut shares of Xencor from a “hold” rating to a “sell” rating in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $26.43.

In other news, insider Bassil I. Dahiyat sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $21.80, for a total value of $872,000.00. Following the sale, the insider now owns 341,128 shares of the company’s stock, valued at approximately $7,436,590.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edgardo Baracchini, Jr. sold 10,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $21.06, for a total transaction of $210,600.00. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at approximately $210,600. The disclosure for this sale can be found here. 4.03% of the stock is currently owned by company insiders.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. Its segment is related to the development of pharmaceutical products. It uses its XmAb technology platform to create antibody product candidates designed to treat autoimmune and allergic diseases, cancer and other conditions.

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