Xencor (NASDAQ:XNCR) Trading 4.8% Higher

Xencor, Inc. (NASDAQ:XNCR) rose 4.8% on Wednesday . The company traded as high as $20.85 and last traded at $20.77. Approximately 476,628 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 650,701 shares. The stock had previously closed at $19.81.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XNCR. BTIG Research lowered their price target on Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Wedbush reissued an “outperform” rating and issued a $34.00 target price (down previously from $36.00) on shares of Xencor in a report on Thursday, June 13th. Royal Bank of Canada lowered their target price on Xencor from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, June 14th. Raymond James reduced their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a report on Friday, June 14th. Finally, BMO Capital Markets lowered their target price on shares of Xencor from $34.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, June 14th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Xencor presently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Xencor Stock Performance

The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.26 billion, a PE ratio of -9.40 and a beta of 0.69. The business’s fifty day moving average is $20.91 and its two-hundred day moving average is $21.26.

Xencor (NASDAQ:XNCR) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.28). Xencor had a negative return on equity of 20.29% and a negative net margin of 82.23%. The company had revenue of $12.80 million during the quarter, compared to analyst estimates of $23.07 million. During the same quarter last year, the business earned ($1.02) earnings per share. The firm’s revenue for the quarter was down 32.3% on a year-over-year basis. As a group, research analysts anticipate that Xencor, Inc. will post -3.5 EPS for the current fiscal year.

Insider Transactions at Xencor

In related news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $665,547.28. Following the transaction, the vice president now owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Xencor

Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of Xencor by 354.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,041 shares of the biopharmaceutical company’s stock worth $149,000 after buying an additional 5,493 shares during the period. Allworth Financial LP grew its stake in shares of Xencor by 29,487.5% in the fourth quarter. Allworth Financial LP now owns 2,367 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 2,359 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Xencor by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,798 shares of the biopharmaceutical company’s stock valued at $654,000 after purchasing an additional 615 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Xencor by 74.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 99,335 shares of the biopharmaceutical company’s stock valued at $2,109,000 after purchasing an additional 42,364 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in Xencor during the fourth quarter worth approximately $648,000.

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.