Xencor (NASDAQ:XNCR) Trading Down 7.4% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) dropped 7.4% during trading on Tuesday . The stock traded as low as $9.97 and last traded at $9.86. Approximately 367,591 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 595,671 shares. The stock had previously closed at $10.64.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on XNCR shares. StockNews.com cut shares of Xencor from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Wells Fargo & Company lowered their price target on shares of Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

Xencor Price Performance

The stock has a market cap of $628.52 million, a PE ratio of -2.79 and a beta of 0.90. The stock’s fifty day moving average is $14.96 and its 200-day moving average is $19.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business had revenue of $52.79 million during the quarter, compared to the consensus estimate of $17.14 million. As a group, equities analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current year.

Hedge Funds Weigh In On Xencor

Several large investors have recently modified their holdings of XNCR. GAMMA Investing LLC increased its position in shares of Xencor by 31.0% during the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 508 shares during the last quarter. KBC Group NV increased its holdings in Xencor by 26.0% in the 4th quarter. KBC Group NV now owns 3,936 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 813 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Xencor by 8.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 949 shares during the period. Sterling Capital Management LLC lifted its stake in Xencor by 732.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Xencor by 22.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 1,282 shares during the period.

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.