Xencor (NASDAQ:XNCR) Stock Price Down 4.5% After Analyst Downgrade

Xencor, Inc. (NASDAQ:XNCR) shares fell 4.5% during trading on Tuesday after BTIG Research lowered their price target on the stock from $56.00 to $38.00. BTIG Research currently has a buy rating on the stock. Xencor traded as low as $19.01 and last traded at $19.21. 131,140 shares were traded during mid-day trading, a decline of 81% from the average session volume of 695,809 shares. The stock had previously closed at $20.11.

A number of other equities analysts have also recently issued reports on XNCR. Piper Sandler reiterated a “neutral” rating and set a $24.00 target price (down previously from $37.00) on shares of Xencor in a report on Wednesday, February 28th. BMO Capital Markets lowered their target price on Xencor from $38.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Wedbush lowered their target price on Xencor from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 target price on shares of Xencor in a report on Wednesday, February 28th. Finally, Mizuho lowered their target price on Xencor from $59.00 to $50.00 and set a “buy” rating for the company in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Insider Transactions at Xencor

In other news, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the completion of the transaction, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP John R. Desjarlais sold 54,108 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the sale, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bassil I. Dahiyat sold 2,741 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.50, for a total transaction of $64,413.50. Following the completion of the sale, the chief executive officer now owns 351,894 shares of the company’s stock, valued at $8,269,509. The disclosure for this sale can be found here. Insiders sold a total of 101,351 shares of company stock worth $2,152,417 in the last three months. Insiders own 4.97% of the company’s stock.

Institutional Investors Weigh In On Xencor

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in Xencor by 498.7% in the 4th quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 1,147 shares during the last quarter. Parallel Advisors LLC lifted its position in Xencor by 303.9% during the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 1,015 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Xencor by 95.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,548 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 756 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Xencor during the third quarter worth approximately $31,000. Finally, Signaturefd LLC lifted its position in Xencor by 367.7% during the fourth quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 1,151 shares during the last quarter.

Xencor Price Performance

The company’s 50-day simple moving average is $22.24 and its 200-day simple moving average is $20.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.36 and a quick ratio of 7.36. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -9.21 and a beta of 0.76.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.67). The company had revenue of $44.70 million for the quarter, compared to analyst estimates of $77.63 million. Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The company’s revenue was up 106.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.20) earnings per share. Research analysts forecast that Xencor, Inc. will post -3.25 earnings per share for the current fiscal year.

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.