Xencor (NASDAQ:XNCR) Trading Down 3.9% – Here’s Why

Xencor, Inc. (NASDAQ:XNCR)’s stock price fell 3.9% during trading on Friday . The stock traded as low as $19.70 and last traded at $19.66. 67,569 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 537,709 shares. The stock had previously closed at $20.46.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on XNCR shares. Wells Fargo & Company began coverage on shares of Xencor in a research note on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and upped their price target for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. BMO Capital Markets restated an “outperform” rating and set a $34.00 price objective (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $34.88.

Xencor Price Performance

The company’s 50-day simple moving average is $23.56 and its 200 day simple moving average is $21.08. The company has a market capitalization of $1.38 billion, a P/E ratio of -6.14 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.

Xencor (NASDAQ:XNCR) last released 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. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business had revenue of $10.70 million during the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the previous year, the business earned ($0.40) EPS. Xencor’s quarterly revenue was down 81.9% compared to the same quarter last year. As a group, sell-side analysts expect that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alan Bruce Montgomery sold 1,421 shares of Xencor stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the transaction, the director now owns 9,140 shares in the company, valued at $247,054.20. This trade represents a 13.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total value of $80,851.32. Following the completion of the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at approximately $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is currently owned by insiders.

Institutional Trading of Xencor

Hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Xencor in the second quarter valued at about $36,000. GAMMA Investing LLC raised its holdings in Xencor by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 508 shares during the last quarter. KBC Group NV lifted its holdings in Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 1,213 shares during the period. XTX Topco Ltd acquired a new position in shares of Xencor in the 2nd quarter valued at $196,000. Finally, Rockefeller Capital Management L.P. bought a new position in Xencor during the 3rd quarter worth approximately $205,000.

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.