Xencor (NASDAQ:XNCR) Shares Down 4%

Xencor, Inc. (NASDAQ:XNCR)’s stock price fell 4% during trading on Thursday . The company traded as low as $20.27 and last traded at $20.29. 108,061 shares changed hands during trading, a decline of 83% from the average session volume of 633,684 shares. The stock had previously closed at $21.13.

Wall Street Analysts Forecast Growth

XNCR has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Xencor in a report on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price target on Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $34.00 price objective on shares of Xencor in a report on Monday, September 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a research report on Tuesday, August 6th. Finally, Raymond James dropped their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Xencor presently has an average rating of “Moderate Buy” and an average price target of $34.44.

Xencor Stock Performance

The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $18.37 and a two-hundred day moving average of $20.55.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results 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 the consensus estimate of $21.13 million. During the same quarter in the previous year, the business earned ($0.37) earnings per share. The firm’s revenue was down 62.7% compared to the same quarter last year. As a group, equities analysts anticipate that Xencor, Inc. will post -4.17 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XNCR. Victory Capital Management Inc. lifted its position in Xencor by 16.4% in the 4th quarter. Victory Capital Management Inc. now owns 24,637 shares of the biopharmaceutical company’s stock valued at $523,000 after acquiring an additional 3,477 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Xencor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,698 shares of the biopharmaceutical company’s stock valued at $11,054,000 after buying an additional 32,251 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Xencor by 105.8% in the 4th quarter. BNP Paribas Financial Markets now owns 82,488 shares of the biopharmaceutical company’s stock worth $1,751,000 after buying an additional 42,403 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Xencor by 23.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,725 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 2,378 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Xencor by 475.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,757 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 3,930 shares during the period.

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.