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

Xencor, Inc. (NASDAQ:XNCR)’s share price dropped 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 trading, a decline of 81% from the average daily volume of 695,809 shares. The stock had previously closed at $20.11.

Several other equities analysts have also commented on XNCR. Wedbush cut their price target on Xencor from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. BMO Capital Markets cut their price target on Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research note 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 cut their price target on Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, January 22nd. Finally, Piper Sandler restated a “neutral” rating and set a $24.00 price target (down previously from $37.00) on shares of Xencor in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Insider Activity at Xencor

In related news, VP John R. Desjarlais sold 1,280 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Xencor news, VP John R. Desjarlais sold 1,280 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $23.50, for a total value of $30,080.00. Following the completion of the sale, the vice president now owns 186,433 shares of the company’s stock, valued at $4,381,175.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John R. Desjarlais sold 54,108 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the sale, 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. Insiders have sold a total of 101,351 shares of company stock valued at $2,152,417 over the last quarter. 4.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xencor

Institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its holdings in Xencor by 24.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 110,353 shares of the biopharmaceutical company’s stock worth $2,224,000 after acquiring an additional 21,946 shares in the last quarter. Hudson Bay Capital Management LP lifted its holdings in shares of Xencor by 144.7% during the third quarter. Hudson Bay Capital Management LP now owns 232,500 shares of the biopharmaceutical company’s stock worth $4,685,000 after purchasing an additional 137,500 shares during the period. Deutsche Bank AG lifted its holdings in shares of Xencor by 13.0% during the third quarter. Deutsche Bank AG now owns 33,098 shares of the biopharmaceutical company’s stock worth $667,000 after purchasing an additional 3,805 shares during the period. Diversified Trust Co acquired a new stake in shares of Xencor during the fourth quarter worth about $265,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of Xencor during the third quarter worth about $707,000.

Xencor Price Performance

The stock has a fifty day moving average of $22.24 and a 200 day moving average of $20.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.36 and a quick ratio of 7.36. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -9.01 and a beta of 0.76.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results 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). The company had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The firm’s revenue was up 106.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) earnings per share. On average, analysts expect that Xencor, Inc. will post -3.25 EPS for the current fiscal 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.