Xencor (NASDAQ:XNCR) Trading Down 3.9% – Should You Sell?

Xencor, Inc. (NASDAQ:XNCR) shares dropped 3.9% during mid-day trading on Monday . The company traded as low as $19.32 and last traded at $19.4240. 215,639 shares traded hands during trading, a decline of 74% from the average daily volume of 839,621 shares. The stock had previously closed at $20.21.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $26.00 price target on shares of Xencor in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen cut Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Xencor Price Performance

The stock’s 50 day simple moving average is $14.86 and its two-hundred day simple moving average is $13.14. The company has a market capitalization of $1.43 billion, a P/E ratio of -8.43 and a beta of 0.86.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). The firm had revenue of $4.52 million during the quarter, compared to the consensus estimate of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The firm’s quarterly revenue was down 86.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.66) earnings per share. As a group, equities research analysts expect that Xencor, Inc. will post -3.76 earnings per share for the current year.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 3,018 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Xencor in the 2nd quarter valued at about $79,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Xencor during the 4th quarter worth approximately $81,000. iSAM Funds UK Ltd bought a new stake in shares of Xencor during the second quarter worth approximately $122,000. Finally, Prelude Capital Management LLC bought a new stake in shares of Xencor during the third quarter worth approximately $139,000.

Xencor Company Profile

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.