Xencor (NASDAQ:XNCR) Stock Price Down 7.4% – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on XNCR. StockNews.com lowered shares of Xencor from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Wells Fargo & Company reduced their target price on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.38.

Xencor Price Performance

The stock has a market capitalization of $628.52 million, a PE ratio of -2.79 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The stock’s fifty day moving average is $14.96 and its 200-day moving average is $19.86.

Xencor (NASDAQ:XNCR) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.19. The business had revenue of $52.79 million for the quarter, compared to analyst estimates of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. As a group, equities analysts predict that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in XNCR. GAMMA Investing LLC increased its holdings in Xencor by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 508 shares in the last quarter. KBC Group NV raised 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Xencor by 8.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 949 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Xencor by 732.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,040 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in Xencor by 22.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 1,282 shares during 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.