Xencor (NASDAQ:XNCR) Trading Down 7.4% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR)’s stock price traded down 7.4% during trading on Tuesday . The company traded as low as $9.97 and last traded at $9.86. 367,591 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 595,671 shares. The stock had previously closed at $10.64.

Analysts Set New Price Targets

Several equities analysts recently weighed in on XNCR shares. StockNews.com lowered shares of Xencor from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Wells Fargo & Company cut their price target on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.38.

Xencor Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The stock’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $20.01. The stock has a market cap of $682.21 million, a price-to-earnings ratio of -3.03 and a beta of 0.74.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $52.79 million during the quarter, compared to analysts’ expectations of $17.14 million. Analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in Xencor in the 4th quarter valued at $632,000. California State Teachers Retirement System lifted its stake in shares of Xencor by 12.1% in the fourth quarter. California State Teachers Retirement System now owns 59,130 shares of the biopharmaceutical company’s stock valued at $1,359,000 after buying an additional 6,376 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Xencor in the fourth quarter valued at about $101,000. GF Fund Management CO. LTD. acquired a new stake in Xencor during the fourth quarter worth about $34,000. Finally, Public Employees Retirement System of Ohio bought a new position in Xencor during the fourth quarter valued at about $1,227,000.

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.