Xencor, Inc. (NASDAQ:XNCR) Short Interest Down 18.2% in November

Xencor, Inc. (NASDAQ:XNCR) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 4,100,000 shares, a decrease of 18.2% from the October 31st total of 5,010,000 shares. Based on an average daily volume of 570,900 shares, the days-to-cover ratio is currently 7.2 days.

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 shares were sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the transaction, the vice president now directly owns 200,104 shares of the company’s stock, valued at approximately $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 through the SEC website. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the business’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 completion of the sale, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at $8,469,812.30. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,328 shares of company stock valued at $2,879,673 over the last ninety days. 5.23% of the stock is currently owned by company insiders.

Institutional Trading of Xencor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA boosted its holdings in shares of Xencor by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock valued at $172,570,000 after acquiring an additional 25,495 shares in the last quarter. Vanguard Group Inc. raised its position in Xencor by 3.6% in the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock valued at $155,154,000 after purchasing an additional 243,793 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Xencor by 147.3% during the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. Logos Global Management LP grew its holdings in shares of Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Xencor by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock valued at $27,628,000 after buying an additional 87,979 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada increased their price target on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets reissued an “outperform” rating and set a $34.00 target price (up from $32.00) on shares of Xencor in a report on Friday, November 8th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Xencor has an average rating of “Moderate Buy” and an average price target of $35.75.

Xencor Stock Performance

Xencor stock opened at $25.60 on Monday. 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 stock has a market cap of $1.79 billion, a PE ratio of -8.00 and a beta of 0.66. Xencor has a 12-month low of $15.31 and a 12-month high of $26.84. The business’s 50-day moving average price is $21.93 and its two-hundred day moving average price is $20.51.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm’s revenue was down 81.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.40) EPS. As a group, analysts expect that Xencor will post -3.71 earnings per share for the current fiscal year.

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.