Xencor (NASDAQ:XNCR) Sees Unusually-High Trading Volume

Shares of Xencor, Inc. (NASDAQ:XNCR) saw strong trading volume on Wednesday . 605,545 shares were traded during trading, a decline of 1% from the previous session’s volume of 614,339 shares.The stock last traded at $20.99 and had previously closed at $19.13.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of Xencor in a report on Monday. JPMorgan Chase & Co. dropped their price target on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Raymond James reduced their price objective on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Friday, June 14th. BMO Capital Markets reissued an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Xencor in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.44.

Xencor Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 6.92. The business has a fifty day moving average of $18.30 and a 200-day moving average of $20.58. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -9.51 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25). Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The business had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. During the same period in the prior year, the firm earned ($0.37) EPS. The business’s revenue for the quarter was down 62.7% on a year-over-year basis. On average, equities analysts anticipate that Xencor, Inc. will post -4.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Xencor

In other news, VP John R. Desjarlais sold 36,329 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $665,547.28. Following the completion of the sale, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xencor

Large investors have recently made changes to their positions in the company. Primecap Management Co. CA boosted its stake in Xencor by 0.3% in the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after purchasing an additional 25,495 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Xencor by 3.6% in the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock valued at $155,154,000 after purchasing an additional 243,793 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Xencor by 9.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after buying an additional 335,881 shares during the period. Armistice Capital LLC grew its holdings in shares of Xencor by 1.5% during the fourth quarter. Armistice Capital LLC now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $31,845,000 after buying an additional 22,000 shares in the last quarter. Finally, Logos Global Management LP grew its holdings in shares of Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $28,395,000 after buying an additional 850,000 shares in 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.