Xencor (NASDAQ:XNCR) Stock Price Down 9.3% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) shares traded down 9.3% on Friday . The company traded as low as $21.25 and last traded at $21.25. 162,225 shares traded hands during trading, a decline of 63% from the average session volume of 438,085 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XNCR shares. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. Wells Fargo & Company started coverage on Xencor in a research note on Thursday, December 12th. They set an “overweight” rating and a $37.00 target price for the company. BMO Capital Markets restated an “outperform” rating and issued a $34.00 price target (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Finally, 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. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Xencor currently has a consensus rating of “Buy” and a consensus price target of $36.56.

Xencor Stock Performance

The stock’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $20.98. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -6.59 and a beta of 0.72. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data 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 firm had revenue of $10.70 million for 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 company’s revenue was down 81.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.40) EPS. Analysts forecast that Xencor, Inc. will post -3.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Xencor

In other news, Director Alan Bruce Montgomery sold 13,301 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.03, for a total value of $359,526.03. Following the sale, the director now directly owns 9,140 shares in the company, valued at approximately $247,054.20. This trade represents a 59.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 200,104 shares in the company, valued at $4,698,441.92. This represents a 25.55 % 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 valued at $3,277,609 in the last ninety days. 5.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XNCR. Quarry LP acquired a new position in Xencor in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC increased its holdings in Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 508 shares during the period. KBC Group NV raised its position in Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 1,213 shares during the last quarter. XTX Topco Ltd bought a new position in Xencor during the 2nd quarter worth $196,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Xencor during the 3rd quarter worth about $205,000.

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.