Xencor (NASDAQ:XNCR) Shares Down 7.1% – Here’s Why

Shares of Xencor, Inc. (NASDAQ:XNCR) traded down 7.1% on Thursday . The company traded as low as $13.56 and last traded at $13.42. 191,331 shares were traded during trading, a decline of 78% from the average session volume of 854,022 shares. The stock had previously closed at $14.45.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on XNCR. Cantor Fitzgerald lifted their price objective on Xencor from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Wedbush restated an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their target price on shares of Xencor from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Barclays increased their price target on shares of Xencor from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Finally, Truist Financial assumed coverage on Xencor in a report on Monday, November 24th. They set a “buy” rating and a $29.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average target price of $24.88.

Xencor Stock Down 8.4%

The company has a market cap of $945.11 million, a P/E ratio of -7.48 and a beta of 0.97. The firm has a fifty day moving average price of $15.66 and a 200 day moving average price of $11.98.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.64. Xencor had a negative net margin of 87.14% and a negative return on equity of 20.44%. The firm had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $29.73 million. During the same quarter last year, the company posted ($0.71) EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Xencor, Inc. will post -3.68 earnings per share for the current year.

Insider Buying and Selling at Xencor

In other Xencor news, CEO Bassil I. Dahiyat sold 114,377 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $15.71, for a total transaction of $1,796,862.67. Following the completion of the sale, the chief executive officer directly owned 466,635 shares of the company’s stock, valued at approximately $7,330,835.85. The trade was a 19.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John R. Desjarlais sold 73,367 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,153,329.24. Following the completion of the transaction, the vice president directly owned 236,574 shares in the company, valued at $3,718,943.28. This trade represents a 23.67% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xencor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. raised its position in shares of Xencor by 209.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,187 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 2,156 shares during the last quarter. GAMMA Investing LLC increased its holdings in Xencor by 77.1% in the third quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 1,449 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Xencor in the third quarter valued at about $44,000. Tower Research Capital LLC TRC boosted its holdings in Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 3,018 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Xencor by 114.3% during the 3rd quarter. Federated Hermes Inc. now owns 3,947 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 2,105 shares during the period.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.