Xencor (NASDAQ:XNCR) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Xencor, Inc. (NASDAQ:XNCR) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $25.42 and traded as high as $33.60. Xencor shares last traded at $29.18, with a volume of 8,896,092 shares traded.

Key Stories Impacting Xencor

Here are the key news stories impacting Xencor this week:

• Positive Sentiment: Updated Phase 1 data for XmAb819 in patients with advanced clear cell renal cell carcinoma were described as encouraging, with coverage highlighting potentially significant anti-cancer activity. The update has increased investor interest in Xencor’s clinical pipeline. Xencor Reveals Updated Phase 1 XmAb819 Data and Projects Cash Runway Through 2029
• Positive Sentiment: Wall Street firms raised their valuation expectations after the clinical update. Wedbush lifted its price target to $45 from $30 and kept an “Outperform” rating, while RBC raised its target to $43 from $20 and maintained “Outperform,” albeit with a speculative-risk designation. Wedbush Xencor Price Target RBC Raises Price Target on Xencor
• Positive Sentiment: Canaccord Genuity reaffirmed its Buy rating, and Wells Fargo also initiated or reiterated a Buy view, adding further sell-side support for the stock. Canaccord Genuity Keeps Buy Rating Xencor Gets a Buy from Wells Fargo
• Positive Sentiment: Management’s projection of a cash runway through 2029 reduces near-term financing and dilution concerns while Xencor advances XmAb819 and other pipeline programs. Xencor Discusses Phase 1 XmAb819 Results
• Neutral Sentiment: Coverage also identified XNCR as a market mover ahead of an unrelated Acumen Pharmaceuticals clinical readout, which may have increased biotechnology-sector attention but does not directly change Xencor’s fundamentals. Three Movers and a Catalyst

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on XNCR shares. Wedbush upped their price target on shares of Xencor from $30.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America lifted their price objective on Xencor from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Barclays set a $45.00 price objective on Xencor and gave the stock an “overweight” rating in a research report on Monday. Truist Financial increased their target price on Xencor from $29.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.33.

Xencor Price Performance

The company’s 50 day moving average is $25.65 and its two-hundred day moving average is $16.81. The firm has a market cap of $2.23 billion, a P/E ratio of -13.82 and a beta of 0.89.

Xencor (NASDAQ:XNCR) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%. The business had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. During the same period last year, the business earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts predict that Xencor, Inc. will post -3.05 EPS for the current year.

Institutional Trading of Xencor

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Xencor during the second quarter valued at approximately $219,785,000. Primecap Management Co. CA bought a new position in Xencor in the second quarter worth $163,919,000. Legal & General Group Plc bought a new position in Xencor in the second quarter worth $17,568,000. Johnson & Johnson acquired a new stake in Xencor during the second quarter worth $12,043,798. Finally, Jefferies Financial Group Inc. acquired a new stake in Xencor during the second quarter worth $11,599,000.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.