Xencor (NASDAQ:XNCR) Shares Down 3.9% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) dropped 3.9% during mid-day trading on Monday . The stock traded as low as $19.32 and last traded at $19.4240. 215,639 shares traded hands during trading, a decline of 74% from the average session volume of 839,621 shares. The stock had previously closed at $20.21.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price objective on Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price target on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Wedbush reissued an “outperform” rating and issued a $26.00 target price on shares of Xencor in a report on Thursday, July 30th. Finally, Wall Street Zen cut shares of Xencor from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Xencor Stock Performance

The stock has a market capitalization of $1.48 billion, a PE ratio of -8.70 and a beta of 0.85. The company’s fifty day simple moving average is $15.19 and its two-hundred day simple moving average is $13.22.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The business had revenue of $4.52 million for the quarter, compared to analysts’ expectations of $27.86 million. During the same period last year, the business earned ($0.66) earnings per share. The company’s revenue for the quarter was down 86.2% on a year-over-year basis. Sell-side analysts forecast that Xencor, Inc. will post -3.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Xencor by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock valued at $109,703,000 after acquiring an additional 61,692 shares during the period. BVF Inc. IL boosted its stake in shares of Xencor by 160.3% during the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock valued at $109,217,000 after buying an additional 4,393,579 shares during the last quarter. RTW Investments LP grew its position in shares of Xencor by 8.9% during the fourth quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock worth $103,763,000 after buying an additional 556,407 shares in the last quarter. State Street Corp increased its stake in shares of Xencor by 22.7% in the fourth quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock worth $69,006,000 after buying an additional 833,423 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Xencor by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,752,918 shares of the biopharmaceutical company’s stock worth $26,842,000 after buying an additional 24,093 shares during the last quarter.

Xencor Company Profile

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.