Xencor (NASDAQ:XNCR) Hits New 12-Month Low - Here's What Happened

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.42 and last traded at $13.60, with a volume of 76991 shares. The stock had previously closed at $13.87.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on XNCR. Piper Sandler upgraded Xencor from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. StockNews.com cut shares of Xencor from a "hold" rating to a "sell" rating in a report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.38.

Xencor Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The firm's 50 day moving average is $17.59 and its two-hundred day moving average is $20.45. The firm has a market capitalization of $903.68 million, a P/E ratio of -4.01 and a beta of 0.74.

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Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts' consensus estimates of ($0.81) by $0.19. The business had revenue of $52.79 million for the quarter, compared to analyst estimates of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. Research analysts predict that Xencor, Inc. will post -3.68 EPS for the current year.

Hedge Funds Weigh In On Xencor

Hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new position in shares of Xencor in the fourth quarter worth $101,000. GF Fund Management CO. LTD. acquired a new position in shares of Xencor in the 4th quarter valued at approximately $34,000. Public Employees Retirement System of Ohio bought a new stake in shares of Xencor during the 4th quarter worth approximately $1,227,000. Woodline Partners LP boosted its position in shares of Xencor by 0.3% during the 4th quarter. Woodline Partners LP now owns 845,916 shares of the biopharmaceutical company's stock worth $19,439,000 after acquiring an additional 2,591 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in Xencor in the fourth quarter valued at approximately $210,000.

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.