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

Xencor, Inc. (NASDAQ:XNCR) traded up 3.9% during mid-day trading on Thursday . The company traded as high as $13.62 and last traded at $13.65. 104,913 shares were traded during trading, a decline of 81% from the average session volume of 560,192 shares. The stock had previously closed at $13.14.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. Wells Fargo & Company dropped their price objective on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com downgraded shares of Xencor from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Xencor has a consensus rating of “Moderate Buy” and a consensus price target of $34.38.

Xencor Price Performance

The stock’s 50-day moving average is $16.71 and its 200 day moving average is $20.35. The company has a market cap of $946.02 million, a PE ratio of -4.22 and a beta of 0.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

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

Institutional Investors Weigh In On Xencor

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of Xencor in the third quarter worth about $540,000. Barclays PLC lifted its holdings in Xencor by 100.7% in the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock valued at $3,128,000 after acquiring an additional 78,066 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Xencor in the 3rd quarter worth approximately $362,000. Jane Street Group LLC boosted its position in Xencor by 18.6% in the 3rd quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after purchasing an additional 26,473 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Xencor by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after purchasing an additional 17,658 shares during the period.

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.