Xencor (NASDAQ:XNCR) Trading 4.6% Higher – Time to Buy?

Xencor, Inc. (NASDAQ:XNCR) shares were up 4.6% during trading on Thursday . The company traded as high as $26.43 and last traded at $26.43. Approximately 152,092 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 605,462 shares. The stock had previously closed at $25.26.

Analyst Ratings Changes

A number of research analysts have issued reports on XNCR shares. Wells Fargo & Company started coverage on Xencor in a report on Thursday. They issued an “overweight” rating and a $37.00 price target for the company. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $30.00 in a research report on Monday, December 2nd. BMO Capital Markets restated an “outperform” rating and set a $34.00 target price (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $36.56.

Xencor Trading Up 0.6 %

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 company has a 50 day simple moving average of $22.84 and a 200 day simple moving average of $20.65. The company has a market capitalization of $1.78 billion, a PE ratio of -7.89 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.27. The business had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business’s revenue for the quarter was down 81.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. Analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Activity

In other Xencor news, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction on 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 directly owns 9,140 shares in the company, valued at $247,054.20. This represents a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the completion of the sale, the vice president now directly owns 200,104 shares of the company’s stock, valued at $4,698,441.92. The trade was a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,050 shares of company stock valued at $3,277,609 in the last 90 days. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

Several institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in Xencor during the 2nd quarter worth approximately $36,000. KBC Group NV boosted its holdings in Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 1,213 shares during the period. SG Americas Securities LLC purchased a new stake in Xencor during the 2nd quarter worth about $154,000. XTX Topco Ltd purchased a new stake in Xencor during the 2nd quarter worth about $196,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Xencor in the 3rd quarter valued at about $205,000.

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.