Wells Fargo & Company Begins Coverage on Xencor (NASDAQ:XNCR)

Wells Fargo & Company assumed coverage on shares of Xencor (NASDAQ:XNCR) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm issued an overweight rating and a $37.00 target price on the biopharmaceutical company’s stock.

XNCR has been the topic of several other research reports. Royal Bank of Canada lifted their price objective on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Wedbush restated an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $36.56.

Xencor Price Performance

Shares of XNCR opened at $24.76 on Thursday. The stock has a 50 day moving average of $22.95 and a 200 day moving average of $20.68. Xencor has a 12 month low of $15.31 and a 12 month high of $27.24. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last announced its 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 firm had revenue of $10.70 million during the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business’s revenue was down 81.9% compared to the same quarter last year. During the same period last 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.

Insiders Place Their Bets

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total value of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares of the company’s stock, valued at approximately $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan Bruce Montgomery sold 1,421 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the sale, the director now owns 9,140 shares in the company, valued at $247,054.20. This trade represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,050 shares of company stock worth $3,277,609 over the last 90 days. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

A number of institutional investors have recently added to or reduced their stakes in XNCR. Sanctuary Advisors LLC bought a new stake in Xencor during the third quarter valued at approximately $540,000. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 17,658 shares during the last quarter. Barclays PLC grew its position in Xencor by 100.7% in the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock worth $3,128,000 after acquiring an additional 78,066 shares in the last quarter. XTX Topco Ltd grew its position in Xencor by 113.2% in the third quarter. XTX Topco Ltd now owns 22,080 shares of the biopharmaceutical company’s stock worth $444,000 after acquiring an additional 11,725 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Xencor by 18.6% in the third quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after acquiring an additional 26,473 shares in the last quarter.

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.