Short Interest in Xencor, Inc. (NASDAQ:XNCR) Declines By 18.2%

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 4,100,000 shares, a decrease of 18.2% from the October 31st total of 5,010,000 shares. Based on an average daily volume of 570,900 shares, the days-to-cover ratio is currently 7.2 days.

Xencor Stock Performance

XNCR stock traded down $0.02 during trading on Friday, reaching $25.60. 317,416 shares of the company's stock were exchanged, compared to its average volume of 653,793. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84. The firm has a market cap of $1.79 billion, a PE ratio of -8.00 and a beta of 0.66. The company's fifty day moving average price is $21.93 and its 200-day moving average price is $20.51. 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 - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company's quarterly revenue was down 81.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.40) earnings per share. On average, research analysts expect that Xencor will post -3.71 EPS for the current fiscal year.

Insider Activity

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the completion of the transaction, the vice president now owns 200,104 shares of the company's stock, valued at $4,698,441.92. The trade was a 25.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the sale, the chief executive officer now owns 352,615 shares of the company's stock, valued at approximately $8,487,443.05. The trade was a 12.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,328 shares of company stock worth $2,879,673. 5.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Xencor by 3.6% during the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company's stock worth $155,154,000 after acquiring an additional 243,793 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Xencor by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 78,425 shares of the biopharmaceutical company's stock worth $1,733,000 after purchasing an additional 3,210 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Xencor by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company's stock worth $826,000 after purchasing an additional 699 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Xencor during the second quarter valued at approximately $154,000. Finally, Diversified Trust Co boosted its holdings in Xencor by 7.8% during the second quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company's stock worth $266,000 after buying an additional 1,017 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on XNCR. Royal Bank of Canada lifted their target price on Xencor from $31.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. boosted their price objective on Xencor from $27.00 to $28.00 and gave the company an "overweight" rating in a research 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 note on Friday, November 8th. Finally, Wedbush reiterated an "outperform" rating and issued a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Xencor presently has a consensus rating of "Moderate Buy" and an average target price of $35.75.

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.