Xencor (NASDAQ:XNCR) Stock Price Down 6.7% – Should You Sell?

Shares of Xencor, Inc. (NASDAQ:XNCR) traded down 6.7% during mid-day trading on Wednesday . The company traded as low as $19.34 and last traded at $19.0720. 291,286 shares were traded during trading, a decline of 65% from the average session volume of 826,268 shares. The stock had previously closed at $20.45.

Analyst Ratings Changes

Several brokerages have commented on XNCR. Wall Street Zen lowered shares of Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Truist Financial decreased their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Xencor Price Performance

The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -8.53 and a beta of 0.86. The business’s 50-day moving average price is $13.79 and its 200 day moving average price is $12.90.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.96). The firm had revenue of $4.52 million during the quarter, compared to analyst estimates of $27.86 million. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.Xencor’s revenue was down 86.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.66) EPS. As a group, sell-side analysts expect that Xencor, Inc. will post -3.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in XNCR. BVF Inc. IL lifted its stake in shares of Xencor by 160.3% in the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after acquiring an additional 4,393,579 shares during the period. Legal & General Group Plc raised its position in Xencor by 603.7% in the third quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock worth $14,932,000 after acquiring an additional 1,092,095 shares in the last quarter. State Street Corp lifted its holdings in Xencor by 22.7% in the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock valued at $69,006,000 after acquiring an additional 833,423 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in shares of Xencor by 620.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 720,440 shares of the biopharmaceutical company’s stock worth $11,030,000 after purchasing an additional 620,440 shares during the last quarter. Finally, RTW Investments LP lifted its stake in Xencor by 8.9% during the fourth quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock valued at $103,763,000 after purchasing an additional 556,407 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.