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

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

Other equities research analysts have also issued research reports about the stock. Piper Sandler reissued a “neutral” rating and issued a $24.00 price objective (down previously from $37.00) on shares of Xencor in a research report on Wednesday, February 28th. Mizuho lowered their price target 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. Wedbush lowered their price target on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Xencor in a report on Wednesday, February 28th. Finally, StockNews.com raised shares of Xencor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Insiders Place Their Bets

In other news, CEO Bassil I. Dahiyat sold 12,528 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total value of $293,531.04. Following the transaction, the chief executive officer now directly owns 300,097 shares in the company, valued at approximately $7,031,272.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Bassil I. Dahiyat sold 2,741 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $23.50, for a total value of $64,413.50. Following the transaction, the chief executive officer now directly owns 351,894 shares in the company, valued at approximately $8,269,509. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bassil I. Dahiyat sold 12,528 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was 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 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 ninety days. Corporate insiders own 4.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CWM LLC lifted its position in Xencor by 498.7% in the 4th quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 1,147 shares during the last quarter. Parallel Advisors LLC lifted its position in Xencor by 303.9% in the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 1,015 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Xencor by 95.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,548 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 756 shares during the last quarter. BluePath Capital Management LLC bought a new stake in Xencor in the 3rd quarter valued at about $31,000. Finally, Signaturefd LLC lifted its position in Xencor by 367.7% in the 4th quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 1,151 shares during the last quarter.

Xencor Stock Performance

The stock has a market capitalization of $1.17 billion, a P/E ratio of -9.21 and a beta of 0.76. The company’s 50-day moving average is $22.24 and its two-hundred day moving average is $20.40. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last issued 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 net margin of 74.90% and a negative return on equity of 18.67%. The firm had revenue of $44.70 million during the quarter, compared to the consensus estimate of $77.63 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The company’s revenue for the quarter was up 106.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Xencor, Inc. will post -3.25 EPS 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.