Xencor (NASDAQ:XNCR) Shares Up 10.3% – Here’s What Happened

Xencor, Inc. (NASDAQ:XNCR) shares shot up 10.3% during mid-day trading on Monday . The stock traded as high as $13.92 and last traded at $13.9390. 351,163 shares were traded during mid-day trading, a decline of 55% from the average session volume of 775,809 shares. The stock had previously closed at $12.64.

Analyst Upgrades and Downgrades

XNCR has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a report on Friday, March 27th. Zacks Research cut Xencor from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price objective on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen lowered Xencor from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, Barclays lifted their target price on Xencor from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Xencor presently has an average rating of “Hold” and an average target price of $24.50.

Xencor Price Performance

The firm’s fifty day simple moving average is $12.12 and its 200 day simple moving average is $12.92. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -6.17 and a beta of 0.92.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). The firm had revenue of $4.52 million for the quarter, compared to analyst estimates of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The firm’s revenue was down 86.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.66) EPS. Equities research analysts forecast that Xencor, Inc. will post -3.84 earnings per share for the current fiscal year.

Institutional Trading of Xencor

A number of hedge funds have recently modified their holdings of XNCR. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Xencor during the fourth quarter valued at $81,000. Tower Research Capital LLC TRC lifted its stake in Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Xencor during the 2nd quarter worth about $79,000. NorthCrest Asset Manangement LLC purchased a new position in Xencor during the 4th quarter valued at about $149,000. Finally, Norges Bank purchased a new position in Xencor during the 4th quarter valued at about $175,000.

About Xencor

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.