Xencor (NASDAQ:XNCR) Shares Down 5.3% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR)’s share price traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $11.33 and last traded at $11.20. 141,268 shares were traded during mid-day trading, a decline of 75% from the average session volume of 571,206 shares. The stock had previously closed at $11.82.

Wall Street Analyst Weigh In

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

Xencor Stock Performance

The company has a market cap of $789.88 million, a price-to-earnings ratio of -3.50 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The company has a fifty day moving average of $16.07 and a two-hundred day moving average of $20.27.

Xencor (NASDAQ:XNCR) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS 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 business had revenue of $52.79 million for the quarter, compared to the consensus estimate of $17.14 million. Equities research analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current year.

Institutional Investors Weigh In On Xencor

A number of institutional investors have recently made changes to their positions in XNCR. Sterling Capital Management LLC increased its position in Xencor by 732.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,040 shares during the period. GF Fund Management CO. LTD. bought a new position in Xencor during the fourth quarter worth $34,000. GAMMA Investing LLC grew its holdings in Xencor by 31.0% in the fourth 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 period. Quarry LP raised its holdings in shares of Xencor by 111.4% during the third quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 2,108 shares during the period. Finally, KBC Group NV boosted its position in shares of Xencor by 26.0% during the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 813 shares in the last quarter.

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.