Xencor (NASDAQ:XNCR) Trading Down 6.7% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) shares were down 6.7% on Wednesday . The stock traded as low as $19.34 and last traded at $19.0720. Approximately 291,286 shares were traded during mid-day trading, a decline of 65% from the average session volume of 826,268 shares. The stock had previously closed at $20.45.

Analyst Ratings Changes

Several brokerages have recently issued reports on XNCR. JPMorgan Chase & Co. raised their price objective 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 shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial decreased their price target on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell 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 price target of $24.25.

Xencor Trading Down 7.7%

The company has a market cap of $1.40 billion, a price-to-earnings ratio of -8.26 and a beta of 0.86. The company has a fifty day moving average price of $13.49 and a two-hundred day moving average price of $12.84.

Xencor (NASDAQ:XNCR) last issued its earnings results 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 analyst estimates of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The business’s revenue for the quarter was down 86.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.66) earnings per share. Sell-side analysts anticipate that Xencor, Inc. will post -3.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in shares of 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 acquiring an additional 3,018 shares during the period. E Fund Management Co. Ltd. bought a new stake in Xencor in the second quarter valued at about $79,000. Wealth Enhancement Advisory Services LLC acquired a new position in Xencor in the fourth quarter worth about $81,000. iSAM Funds UK Ltd acquired a new position in Xencor in the second quarter worth about $122,000. Finally, Prelude Capital Management LLC bought a new position in Xencor during the third quarter worth about $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.