Xencor (NASDAQ:XNCR) Trading Down 7.4% – Time to Sell?

Shares of Xencor, Inc. (NASDAQ:XNCR) traded down 7.4% during trading on Tuesday . The stock traded as low as $9.97 and last traded at $9.86. 367,591 shares were traded during mid-day trading, a decline of 38% from the average session volume of 595,671 shares. The stock had previously closed at $10.64.

Analysts Set New Price Targets

Several brokerages have issued reports on XNCR. Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $20.00 to $30.00 in a report on Monday, December 2nd. StockNews.com lowered shares of Xencor from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company dropped their price target on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.38.

Xencor Stock Down 9.0 %

The firm has a market cap of $682.21 million, a price-to-earnings ratio of -3.03 and a beta of 0.74. The business’s 50-day moving average is $15.39 and its 200-day moving average is $20.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $52.79 million for the quarter, compared to analysts’ expectations of $17.14 million. On average, equities analysts predict that Xencor, Inc. will post -3.68 EPS for the current year.

Institutional Investors Weigh In On Xencor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. increased its stake in shares of 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 buying an additional 1,858,440 shares in the last quarter. RTW Investments LP raised its stake in shares of Xencor by 317.9% in the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock worth $55,218,000 after acquiring an additional 1,827,883 shares during the last quarter. BVF Inc. IL grew its stake in shares of Xencor by 169.3% during the fourth quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company’s stock valued at $52,596,000 after purchasing an additional 1,438,760 shares during the last quarter. Nuveen Asset Management LLC raised its position in Xencor by 452.4% in the 4th quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company’s stock worth $19,236,000 after purchasing an additional 685,557 shares during the last quarter. Finally, Finepoint Capital LP acquired a new position in Xencor during the 4th quarter worth $15,167,000.

About Xencor

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.