Xencor (NASDAQ:XNCR) Stock Price Down 6.6% – Should You Sell?

Shares of Xencor, Inc. (NASDAQ:XNCR) dropped 6.6% during mid-day trading on Monday . The stock traded as low as $14.76 and last traded at $14.8050. 147,583 shares were traded during trading, a decline of 82% from the average session volume of 802,951 shares. The stock had previously closed at $15.85.

Analyst Upgrades and Downgrades

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

Xencor Stock Performance

The business has a 50 day moving average of $12.92 and a 200-day moving average of $12.77. The company has a market capitalization of $1.10 billion, a P/E ratio of -6.48 and a beta of 0.86.

Xencor (NASDAQ:XNCR) last posted its earnings results 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 net margin of 177.10% and a negative return on equity of 28.77%. The company had revenue of $4.52 million for the quarter, compared to analysts’ expectations of $27.86 million. During the same period in the previous year, the firm earned ($0.66) EPS. The firm’s quarterly revenue was down 86.2% compared to the same quarter last year. As a group, equities analysts forecast that Xencor, Inc. will post -3.88 EPS for the current fiscal year.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Xencor in the 4th quarter worth approximately $81,000. Tower Research Capital LLC TRC grew its position in shares of Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Xencor during the 2nd quarter valued at $79,000. NorthCrest Asset Manangement LLC bought a new position in shares of Xencor in the fourth quarter worth $149,000. Finally, Norges Bank bought a new position in shares of Xencor in the fourth quarter worth $175,000.

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.