Xencor (NASDAQ:XNCR) Stock Price Down 3.8% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) was down 3.8% during trading on Friday . The company traded as low as $19.46 and last traded at $19.27. Approximately 173,302 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 530,695 shares. The stock had previously closed at $20.03.

Analyst Ratings Changes

A number of equities research analysts have weighed in on XNCR shares. Wells Fargo & Company assumed coverage on shares of Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target for the company. BMO Capital Markets restated an “outperform” rating and set a $34.00 price target (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. Royal Bank of Canada raised their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their price target 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. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.56.

Xencor Stock Down 4.0 %

The firm’s 50-day simple moving average is $23.99 and its two-hundred day simple moving average is $21.00. 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 company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -6.01 and a beta of 0.72.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. Xencor’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. Sell-side analysts predict that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling at Xencor

In related news, Director Alan Bruce Montgomery sold 13,301 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $27.03, for a total value of $359,526.03. Following the completion of the transaction, the director now owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 59.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total transaction of $80,851.32. Following the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,469,812.30. This represents 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 quarter. Corporate insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its stake in shares of Xencor by 147.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after buying an additional 1,858,440 shares during the period. Logos Global Management LP boosted its position in Xencor by 130.8% during the 2nd 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 period. RA Capital Management L.P. purchased a new position in Xencor in the third quarter valued at about $11,563,000. RTW Investments LP acquired a new position in shares of Xencor during the third quarter worth about $11,563,000. Finally, Braidwell LP purchased a new stake in shares of Xencor in the third quarter worth about $9,380,000.

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.