Xencor (NASDAQ:XNCR) Trading 3.9% Higher – Here’s Why

Xencor, Inc. (NASDAQ:XNCR)’s share price traded up 3.9% on Thursday . The stock traded as high as $13.62 and last traded at $13.65. 104,913 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 560,192 shares. The stock had previously closed at $13.14.

Analyst Ratings Changes

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

Xencor Price Performance

The firm’s 50-day moving average price is $16.71 and its 200-day moving average price is $20.35. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $946.02 million, a PE ratio of -4.22 and a beta of 0.75.

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 analysts’ consensus estimates of ($0.81) by $0.19. The company had revenue of $52.79 million for the quarter, compared to analyst estimates of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. On average, equities analysts forecast that Xencor, Inc. will post -3.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

A number of hedge funds have recently added to or reduced their stakes in XNCR. KBC Group NV grew its stake in Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Xencor by 127.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,369 shares of the biopharmaceutical company’s stock worth $2,340,000 after acquiring an additional 65,180 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Xencor in the 3rd quarter worth about $362,000. Intech Investment Management LLC bought a new position in Xencor in the 3rd quarter worth about $368,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Xencor by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 626,988 shares of the biopharmaceutical company’s stock worth $12,609,000 after acquiring an additional 40,788 shares in the last quarter.

Xencor Company Profile

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.