Market Overview

Xencor To Replace HFF In The S&P SmallCap 600, Shares Rise

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Xencor Inc (NASDAQ: XNCR) shares are trading higher after it was announced the company will replace HFF Inc (NYSE: HF) in the S&P SmallCap 600 on July 2.

Xencor is a pharmaceutical manufacturer with an emphasis on addressing severe diseases.

HFF provides capital markets and brokerage services to owners of commercial real estate. In March, Jones Lang LaSalle Inc. (NYSE: JLL) announced it's acquiring HFF in a cash and stock transaction with an equity value of approximately $2 billion.

Xencor shares traded higher by 13% to $38.42 at time of publication Tuesday. The stock has a 52-week range between $48.38 and $27.75.

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