Xencor Inc (XNCR): What Smart Money Thinks about This Stock?

As one would reasonably expect, specific money managers have jumped into Xencor Inc (NASDAQ:XNCR) headfirst. Richard Driehaus’ Driehaus Capital assembled the most outsized position in Xencor Inc (NASDAQ:XNCR). Driehaus Capital had $2.8 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $1.2 million position during the third quarter. The other funds with new positions in the stock are David Costen Haley’s HBK Investments, John Overdeck and David Siegel’s Two Sigma Advisors, and Drew Cupps’ Cupps Capital Management.

Let’s check out hedge fund activity in other stocks similar to Xencor Inc (NASDAQ:XNCR). We will take a look at Civitas Solutions Inc (NYSE:CIVI), Orthofix International NV (NASDAQ:OFIX), American Railcar Industries, Inc. (NASDAQ:ARII), and Encore Wire Corporation (NASDAQ:WIRE). This group of stocks’ market caps are closest to XNCR’s market cap.

As you can see these stocks had an average of 15 funds with bullish positions and the average amount invested in these stocks was $202 million. That figure was $157 million in XNCR’s case. Orthofix International NV (NASDAQ:OFIX) is the most popular stock in this table with 23 investors having reported long positions. On the other hand Civitas Solutions Inc (NYSE:CIVI) is the least popular one with only eight bullish hedge fund positions. Xencor Inc (NASDAQ:XNCR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Orthofix International NV (NASDAQ:OFIX) might be a better candidate to consider taking a long position in.