Xencor (NASDAQ:XNCR) Stock Price Down 3.9% – What’s Next?

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on XNCR shares. JPMorgan Chase & Co. upped their target price on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $30.00 in a research report on Monday, December 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 price target (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their target price on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $34.88.

Xencor Stock Down 4.4 %

The company has a market cap of $1.37 billion, a P/E ratio of -6.12 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 moving average price of $23.69 and a 200 day moving average price of $21.05.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company’s revenue was down 81.9% on a year-over-year basis. Equities research analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current year.

Insider Activity

In related news, VP John R. Desjarlais sold 68,684 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the transaction, the vice president now owns 200,104 shares in the company, valued at $4,698,441.92. This trade represents a 25.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total transaction of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at approximately $8,469,812.30. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,050 shares of company stock valued at $3,277,609 over the last three months. 5.23% of the stock is owned by insiders.

Institutional Trading of Xencor

Institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 12,083 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Xencor by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after acquiring an additional 87,979 shares in the last quarter. Renaissance Technologies LLC grew its stake in Xencor by 49.8% in the second quarter. Renaissance Technologies LLC now owns 65,323 shares of the biopharmaceutical company’s stock valued at $1,237,000 after acquiring an additional 21,723 shares during the period. XTX Topco Ltd bought a new stake in shares of Xencor in the second quarter worth about $196,000. Finally, Public Sector Pension Investment Board increased its holdings in shares of Xencor by 8.7% in the second quarter. Public Sector Pension Investment Board now owns 135,657 shares of the biopharmaceutical company’s stock worth $2,568,000 after acquiring an additional 10,876 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.