Xencor (NASDAQ:XNCR) Shares Down 9.3% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) shares fell 9.3% during mid-day trading on Friday . The company traded as low as $21.25 and last traded at $21.25. 162,225 shares were traded during mid-day trading, a decline of 63% from the average session volume of 438,085 shares. The stock had previously closed at $23.43.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on XNCR. Royal Bank of Canada upped their price target on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wedbush restated an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $30.00 in a research report on Monday, December 2nd. Finally, Wells Fargo & Company began coverage on Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $36.56.

Xencor Stock Down 12.1 %

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.44 and a beta of 0.72. The business has a fifty day simple moving average of $24.18 and a two-hundred day simple moving average of $20.99. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. Xencor’s quarterly revenue was down 81.9% on a year-over-year basis. Equities analysts expect that Xencor, Inc. will post -3.71 EPS for the current year.

Insider Transactions at Xencor

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total value of $80,851.32. Following the completion of the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at approximately $8,469,812.30. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total transaction of $38,409.63. Following the transaction, the director now owns 9,140 shares in the company, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,050 shares of company stock valued at $3,277,609. 5.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Xencor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of Xencor by 2.8% in the second quarter. Rhumbline Advisers now owns 154,573 shares of the biopharmaceutical company’s stock valued at $2,926,000 after purchasing an additional 4,265 shares in the last quarter. Quest Partners LLC increased its stake in shares of Xencor by 121.2% in the 2nd quarter. Quest Partners LLC now owns 18,639 shares of the biopharmaceutical company’s stock valued at $353,000 after buying an additional 10,214 shares during the period. American Century Companies Inc. raised its position in shares of Xencor by 14.5% during the second quarter. American Century Companies Inc. now owns 95,375 shares of the biopharmaceutical company’s stock worth $1,805,000 after acquiring an additional 12,083 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of Xencor by 4.2% during the second quarter. WINTON GROUP Ltd now owns 46,481 shares of the biopharmaceutical company’s stock valued at $880,000 after acquiring an additional 1,883 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Xencor by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock valued at $27,628,000 after acquiring an additional 87,979 shares during 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.