Xencor (NASDAQ:XNCR) Reaches New 52-Week High – What’s Next?

Shares of Xencor, Inc. (NASDAQ:XNCR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.47 and last traded at $23.12, with a volume of 962153 shares. The stock had previously closed at $23.34.

Analyst Upgrades and Downgrades

XNCR has been the subject of several analyst reports. Wall Street Zen upgraded Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald lifted their price target on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Truist Financial dropped their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Finally, Zacks Research raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.86.

Xencor Trading Up 8.3%

The firm has a market capitalization of $2.05 billion, a PE ratio of -12.68 and a beta of 0.85. The firm has a 50-day moving average of $17.61 and a two-hundred day moving average of $13.99.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.51. The firm had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) earnings per share. Equities research analysts expect that Xencor, Inc. will post -3 earnings per share for the current fiscal year.

Institutional Trading of Xencor

A number of institutional investors and hedge funds have recently bought and sold shares of XNCR. Allworth Financial LP acquired a new position in Xencor during the second quarter valued at approximately $55,000. Tower Research Capital LLC TRC increased its position in shares of Xencor by 118.4% in the second 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 in the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Xencor in the second quarter worth $79,000. Norges Bank purchased a new position in shares of Xencor in the 4th quarter valued at $175,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Xencor in the 3rd quarter valued at $139,000.

About Xencor

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.