Xencor (NASDAQ:XNCR) Shares Down 5.3% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR)’s stock price traded down 5.3% during trading on Wednesday . The stock traded as low as $11.33 and last traded at $11.20. 141,268 shares changed hands during trading, a decline of 75% from the average session volume of 571,206 shares. The stock had previously closed at $11.82.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. Finally, StockNews.com lowered Xencor from a “hold” rating to a “sell” rating in a research report 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.38.

Xencor Stock Up 4.1 %

The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $811.02 million, a price-to-earnings ratio of -3.60 and a beta of 0.74. The firm’s 50-day moving average price is $15.72 and its 200 day moving average price is $20.14.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.19. The business had revenue of $52.79 million during the quarter, compared to the consensus estimate of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. On average, sell-side analysts forecast that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Institutional Trading of Xencor

Several institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,040 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Xencor during the 4th quarter valued at approximately $34,000. GAMMA Investing LLC increased its position in Xencor by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 508 shares in the last quarter. Quarry LP increased its position in Xencor by 111.4% during the 3rd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 2,108 shares in the last quarter. Finally, KBC Group NV lifted its stake in Xencor by 26.0% in the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 813 shares during the last quarter.

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.