Xencor (NASDAQ:XNCR) Shares Pass Below 50-Day Moving Average – What’s Next?

Shares of Xencor, Inc. (NASDAQ:XNCR) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.41 and traded as low as $12.50. Xencor shares last traded at $13.02, with a volume of 641,201 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XNCR. Wedbush reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a research report on Thursday, November 6th. Truist Financial began coverage on Xencor in a research note on Monday, November 24th. They issued a “buy” rating and a $29.00 target price on the stock. Royal Bank Of Canada increased their price target on Xencor from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their price objective on Xencor from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.88.

Xencor Stock Up 1.9%

The firm has a 50 day moving average of $15.41 and a 200 day moving average of $12.26. The firm has a market cap of $929.76 million, a PE ratio of -7.36 and a beta of 0.97.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.64. Xencor had a negative return on equity of 20.44% and a negative net margin of 87.14%.The firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $29.73 million. During the same period in the previous year, the company posted ($0.71) earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. On average, research analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current year.

Insider Activity

In other Xencor news, VP John R. Desjarlais sold 73,367 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,153,329.24. Following the completion of the transaction, the vice president owned 236,574 shares in the company, valued at $3,718,943.28. This trade represents a 23.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bassil I. Dahiyat sold 114,377 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $15.71, for a total transaction of $1,796,862.67. Following the completion of the sale, the chief executive officer directly owned 466,635 shares in the company, valued at approximately $7,330,835.85. This trade represents a 19.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xencor

Several institutional investors have recently made changes to their positions in XNCR. Primecap Management Co. CA grew its position in shares of Xencor by 1.4% in the third quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock valued at $125,218,000 after purchasing an additional 147,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in Xencor by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,703,664 shares of the biopharmaceutical company’s stock valued at $13,393,000 after buying an additional 29,316 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Xencor by 603.7% in the third quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock valued at $14,932,000 after acquiring an additional 1,092,095 shares during the period. UBS Group AG boosted its position in shares of Xencor by 51.4% in the third quarter. UBS Group AG now owns 1,175,267 shares of the biopharmaceutical company’s stock valued at $13,786,000 after acquiring an additional 399,071 shares during the period. Finally, Baker BROS. Advisors LP increased its holdings in Xencor by 64.4% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,102,106 shares of the biopharmaceutical company’s stock worth $12,928,000 after acquiring an additional 431,675 shares during the period.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.