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

Xencor, Inc. (NASDAQ:XNCR)’s stock price was down 4.5% during 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 traded hands during mid-day 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 subject of several other reports. Wedbush reduced their target price on Xencor from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. StockNews.com raised shares of Xencor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Mizuho decreased their price objective on shares of Xencor from $59.00 to $50.00 and set a “buy” rating for the company in a report on Monday, January 22nd. Piper Sandler restated a “neutral” rating and issued a $24.00 target price (down previously from $37.00) on shares of Xencor in a research note on Wednesday, February 28th. Finally, BMO Capital Markets reduced their price target on shares of Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Insider Buying and Selling

In other news, CEO Bassil I. Dahiyat sold 12,528 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total transaction of $293,531.04. Following the completion of the transaction, the chief executive officer now owns 300,097 shares in the company, valued at $7,031,272.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Bassil I. Dahiyat sold 12,528 shares of Xencor stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total transaction of $293,531.04. Following the sale, the chief executive officer now owns 300,097 shares of the company’s stock, valued at $7,031,272.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bassil I. Dahiyat sold 2,741 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 value of $64,413.50. Following the sale, the chief executive officer now directly owns 351,894 shares in the company, valued at approximately $8,269,509. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,351 shares of company stock valued at $2,152,417. Insiders own 4.97% of the company’s stock.

Institutional Investors Weigh In On Xencor

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

Xencor Stock Performance

The firm’s 50-day moving average price is $22.24 and its two-hundred day moving average price is $20.38. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.17 billion, a PE ratio of -9.08 and a beta of 0.76.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share 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 firm had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was up 106.9% on a year-over-year basis. As a group, research analysts predict that Xencor, Inc. will post -3.25 earnings per share for the current fiscal year.

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.