Xencor (NASDAQ:XNCR) Sees Large Volume Increase

Shares of Xencor, Inc. (NASDAQ:XNCR) saw unusually-strong trading volume on Wednesday . Approximately 437,532 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 680,063 shares.The stock last traded at $22.45 and had previously closed at $20.94.

Analysts Set New Price Targets

Several brokerages have recently commented on XNCR. Wedbush lowered their target price on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. StockNews.com upgraded Xencor from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. Mizuho decreased their price target on Xencor from $59.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, January 22nd. BMO Capital Markets cut their price objective on Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 target price on shares of Xencor in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Xencor Stock Down 1.3 %

The business’s 50-day moving average price is $21.89 and its 200 day moving average price is $20.44. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

In other news, VP John R. Desjarlais sold 1,280 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.50, for a total transaction of $30,080.00. Following the completion of the sale, the vice president now directly owns 186,433 shares in the company, valued at $4,381,175.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP John R. Desjarlais sold 1,280 shares of the business’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 $30,080.00. Following the sale, the vice president now owns 186,433 shares of the company’s stock, valued at $4,381,175.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John R. Desjarlais sold 54,108 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,351 shares of company stock valued at $2,152,417. 4.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xencor

Several institutional investors and hedge funds have recently made changes to their positions in XNCR. Primecap Management Co. CA boosted its stake in Xencor by 8.8% during the 4th quarter. Primecap Management Co. CA now owns 8,901,607 shares of the biopharmaceutical company’s stock valued at $188,981,000 after purchasing an additional 717,401 shares during the last quarter. Armistice Capital LLC increased its holdings in Xencor by 65.7% in the 3rd quarter. Armistice Capital LLC now owns 1,478,000 shares of the biopharmaceutical company’s stock worth $29,782,000 after buying an additional 586,000 shares in the last quarter. Norges Bank purchased a new position in Xencor in the 4th quarter worth about $6,909,000. abrdn plc bought a new position in Xencor during the 4th quarter valued at about $3,726,000. Finally, Hudson Bay Capital Management LP boosted its holdings in shares of Xencor by 144.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 232,500 shares of the biopharmaceutical company’s stock valued at $4,685,000 after acquiring an additional 137,500 shares during the last quarter.

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.