Xencor (NASDAQ:XNCR) Stock Price Down 5.3% – Here’s Why

Xencor, Inc. (NASDAQ:XNCR) traded down 5.3% on Wednesday . The stock traded as low as $11.33 and last traded at $11.20. 141,268 shares were traded during mid-day trading, a decline of 75% from the average session volume of 571,206 shares. The stock had previously closed at $11.82.

Wall Street Analyst Weigh In

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

Xencor Trading Down 5.2 %

The company’s 50-day moving average is $16.07 and its 200-day moving average is $20.27. 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 firm has a market cap of $789.88 million, a price-to-earnings ratio of -3.50 and a beta of 0.74.

Xencor (NASDAQ:XNCR) last announced 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 firm had revenue of $52.79 million during the quarter, compared to analysts’ expectations of $17.14 million. On average, research analysts predict that Xencor, Inc. will post -3.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XNCR. Thrivent Financial for Lutherans lifted its position in Xencor by 127.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,369 shares of the biopharmaceutical company’s stock valued at $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 shares of Xencor during the 3rd quarter worth approximately $362,000. Intech Investment Management LLC acquired a new position in Xencor in the 3rd quarter valued at about $368,000. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $12,609,000 after acquiring an additional 40,788 shares during the period. Finally, FMR LLC boosted its holdings in shares of Xencor by 315.5% during the third quarter. FMR LLC now owns 16,764 shares of the biopharmaceutical company’s stock worth $337,000 after acquiring an additional 12,729 shares during the period.

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.