Xencor (NASDAQ:XNCR) Trading Down 9.3% – What’s Next?

Xencor, Inc. (NASDAQ:XNCR)’s stock price was down 9.3% during trading on Friday . The stock traded as low as $21.25 and last traded at $21.25. Approximately 162,225 shares changed hands during trading, a decline of 63% from the average daily volume of 438,085 shares. The stock had previously closed at $23.43.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on XNCR. Royal Bank of Canada increased their price objective on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. Wells Fargo & Company began coverage on Xencor in a research note on Thursday, December 12th. They set an “overweight” rating and a $37.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Finally, Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Xencor has an average rating of “Buy” and a consensus price target of $36.56.

Xencor Stock Down 12.1 %

The company has a market capitalization of $1.44 billion, a P/E ratio of -6.44 and a beta of 0.72. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $24.18 and a 200-day simple moving average of $20.99.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. The business had revenue of $10.70 million during the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. Xencor’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.40) EPS. On average, equities research analysts expect that Xencor, Inc. will post -3.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alan Bruce Montgomery sold 1,421 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total transaction of $38,409.63. Following the completion of the transaction, the director now directly owns 9,140 shares in the company, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 in the company, valued at $8,487,443.05. The trade was a 12.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,050 shares of company stock worth $3,277,609 over the last ninety days. Company insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in Xencor by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 154,573 shares of the biopharmaceutical company’s stock worth $2,926,000 after buying an additional 4,265 shares in the last quarter. Quest Partners LLC increased its position in shares of Xencor by 121.2% in the second quarter. Quest Partners LLC now owns 18,639 shares of the biopharmaceutical company’s stock valued at $353,000 after acquiring an additional 10,214 shares during the last quarter. American Century Companies Inc. raised its holdings in Xencor by 14.5% during the second quarter. American Century Companies Inc. now owns 95,375 shares of the biopharmaceutical company’s stock worth $1,805,000 after acquiring an additional 12,083 shares in the last quarter. WINTON GROUP Ltd boosted its position in Xencor by 4.2% during the second quarter. WINTON GROUP Ltd now owns 46,481 shares of the biopharmaceutical company’s stock valued at $880,000 after purchasing an additional 1,883 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Xencor by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock valued at $27,628,000 after purchasing an additional 87,979 shares in the last quarter.

Xencor Company 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.