Xencor (NASDAQ:XNCR) Trading 4.6% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

XNCR has been the subject of several research analyst reports. Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $30.00 in a research report on Monday, December 2nd. Wells Fargo & Company started coverage on shares of Xencor in a research note on Thursday. They set an “overweight” rating and a $37.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Xencor in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their target price on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Xencor currently has an average rating of “Buy” and a consensus price target of $36.56.

Xencor Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The stock’s 50 day simple moving average is $23.03 and its two-hundred day simple moving average is $20.68.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The firm 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 company’s revenue was down 81.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.40) earnings per share. On average, equities research analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Activity

In related news, CEO Bassil I. Dahiyat sold 49,278 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the sale, the chief executive officer now owns 352,615 shares of the company’s stock, valued at $8,487,443.05. This trade represents a 12.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction dated 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 transaction, the vice president now owns 200,104 shares of the company’s stock, valued at $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,050 shares of company stock valued at $3,277,609. 5.23% of the stock is owned by company insiders.

Institutional Trading of Xencor

Several institutional investors have recently added to or reduced their stakes in XNCR. Point72 Asset Management L.P. raised its stake in Xencor by 147.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock worth $62,748,000 after buying an additional 1,858,440 shares during the period. Logos Global Management LP grew its stake in Xencor by 130.8% in the 2nd quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $28,395,000 after purchasing an additional 850,000 shares during the period. RA Capital Management L.P. purchased a new stake in Xencor during the third quarter worth about $11,563,000. RTW Investments LP bought a new position in Xencor during the third quarter valued at $11,563,000. Finally, Braidwell LP bought a new position in shares of Xencor during the 3rd quarter worth $9,380,000.

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.