Xencor (NASDAQ:XNCR) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company assumed coverage on shares of Xencor (NASDAQ:XNCR - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $37.00 price target on the biopharmaceutical company's stock. Wells Fargo & Company's price objective suggests a potential upside of 49.43% from the stock's previous close.

A number of other equities analysts have also recently commented on XNCR. JPMorgan Chase & Co. lifted their price objective on shares of Xencor from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Piper Sandler raised shares of Xencor from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. Royal Bank of Canada upped their price target on shares of Xencor from $31.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Wedbush restated an "outperform" rating and set a $38.00 price objective on shares of Xencor in a research report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.56.

Xencor Stock Performance

NASDAQ:XNCR traded down $0.50 during mid-day trading on Thursday, hitting $24.76. The stock had a trading volume of 510,472 shares, compared to its average volume of 606,984. The company's 50 day simple moving average is $22.84 and its 200 day simple moving average is $20.65. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -7.89 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. Xencor has a twelve month low of $15.31 and a twelve month high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million during the quarter, compared to analysts' expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business's revenue was down 81.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) earnings per share. On average, equities research analysts forecast that Xencor will post -3.71 earnings per share for the current year.

Insider Activity at Xencor

In related news, Director Alan Bruce Montgomery sold 13,301 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.03, for a total value of $359,526.03. Following the completion of the transaction, the director now owns 9,140 shares of the company's stock, valued at $247,054.20. The trade was a 59.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total transaction of $80,851.32. Following the sale, the chief executive officer now directly owns 352,615 shares of the company's stock, valued at $8,469,812.30. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,050 shares of company stock worth $3,277,609. Company insiders own 5.23% of the company's stock.

Institutional Trading of Xencor

Several large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in Xencor during the second quarter worth about $36,000. KBC Group NV boosted its position in Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company's stock valued at $63,000 after buying an additional 1,213 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Xencor in the second quarter valued at approximately $154,000. Rockefeller Capital Management L.P. bought a new stake in shares of Xencor during the third quarter worth $205,000. Finally, XTX Topco Ltd acquired a new position in shares of Xencor during the second quarter worth $196,000.

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.