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

Xencor, Inc. (NASDAQ:XNCR)’s stock price was down 4.5% during mid-day 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. Approximately 131,140 shares were traded during trading, a decline of 81% from the average daily volume of 695,809 shares. The stock had previously closed at $20.11.

XNCR has been the topic of a number of other research reports. Mizuho reduced their price target on Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $32.00 target price on shares of Xencor in a report on Wednesday, February 28th. BMO Capital Markets dropped their price target on Xencor from $38.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Wedbush reduced their price objective on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $24.00 target price (down from $37.00) on shares of Xencor in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Insiders Place Their Bets

In other news, VP John R. Desjarlais sold 54,108 shares of Xencor stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the sale, the vice president now directly owns 161,675 shares of the company’s stock, valued at $3,133,261.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP John R. Desjarlais sold 1,280 shares of Xencor stock in a transaction on Monday, March 11th. The shares were sold at an average price of $23.50, for a total transaction of $30,080.00. Following the transaction, the vice president now owns 186,433 shares in the company, valued at $4,381,175.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John R. Desjarlais sold 54,108 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 101,351 shares of company stock valued at $2,152,417 in the last 90 days. Corporate insiders own 4.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XNCR. CWM LLC increased its position in shares of Xencor by 498.7% during the fourth quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 1,147 shares during the period. Parallel Advisors LLC lifted its holdings in Xencor by 303.9% in the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 1,015 shares during the period. China Universal Asset Management Co. Ltd. boosted 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 valued at $31,000 after acquiring an additional 756 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Xencor during the 3rd quarter worth about $31,000. Finally, Signaturefd LLC raised its position in shares of Xencor by 367.7% in the 4th quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 1,151 shares in the last quarter.

Xencor Stock Performance

The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $20.38. The stock has a market capitalization of $1.17 billion, a P/E ratio of -9.08 and a beta of 0.76.

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