Xencor (NASDAQ:XNCR) Trading 4.6% Higher – Should You Buy?

Xencor, Inc. (NASDAQ:XNCR) shares shot up 4.6% during mid-day trading on Thursday . The stock traded as high as $26.43 and last traded at $26.43. 152,092 shares changed hands during trading, a decline of 75% from the average session volume of 605,462 shares. The stock had previously closed at $25.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on XNCR shares. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Xencor in a research note on Thursday, November 7th. Wells Fargo & Company initiated coverage on Xencor in a report on Thursday. They issued an “overweight” rating and a $37.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets restated an “outperform” rating and set a $34.00 price objective (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Xencor currently has an average rating of “Buy” and a consensus target price of $36.56.

Xencor Trading Down 2.9 %

The firm has a fifty day moving average price of $23.03 and a two-hundred day moving average price of $20.68. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.27. The business had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business’s revenue for the quarter was down 81.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.40) EPS. On average, equities research analysts anticipate that Xencor, Inc. will post -3.71 earnings per share for the current year.

Insider Activity at Xencor

In related news, Director Alan Bruce Montgomery sold 1,421 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total transaction of $38,409.63. Following the transaction, the director now directly owns 9,140 shares in the company, valued at $247,054.20. The trade was a 13.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John R. Desjarlais sold 68,684 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the sale, the vice president now owns 200,104 shares in the company, valued at $4,698,441.92. The trade was a 25.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,050 shares of company stock valued at $3,277,609 over the last quarter. 5.23% of the stock is owned by corporate insiders.

Institutional Trading of Xencor

Several large investors have recently made changes to their positions in the business. Baillie Gifford & Co. grew its holdings in Xencor by 3.3% during the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after acquiring an additional 744 shares during the period. Louisiana State Employees Retirement System increased its holdings in Xencor by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock valued at $587,000 after buying an additional 900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Xencor by 8.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,156 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 949 shares during the period. Diversified Trust Co boosted its stake in shares of Xencor by 7.8% during the 2nd quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 1,017 shares in the last quarter. Finally, KBC Group NV grew its position in shares of Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 1,213 shares during the period.

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.