Xencor (NASDAQ:XNCR) Stock Price Down 5.4% - Here's Why

Shares of Xencor, Inc. (NASDAQ:XNCR - Get Free Report) dropped 5.4% on Tuesday . The company traded as low as $8.21 and last traded at $7.92. Approximately 107,457 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 604,578 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

A number of research firms have issued reports on XNCR. StockNews.com cut Xencor from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Wells Fargo & Company cut their target price on shares of Xencor from $37.00 to $33.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.38.

Xencor Trading Up 7.8 %

The company has a market capitalization of $601.75 million, a P/E ratio of -2.67 and a beta of 0.90. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $13.07 and its 200 day moving average price is $19.09.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.19. The firm had revenue of $52.79 million during the quarter, compared to the consensus estimate of $17.14 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. As a group, equities research analysts predict that Xencor, Inc. will post -3.68 earnings per share for the current year.

Institutional Trading of Xencor

Several institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in Xencor in the 3rd quarter worth about $540,000. Barclays PLC increased its position in shares of Xencor by 100.7% during the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company's stock valued at $3,128,000 after acquiring an additional 78,066 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Xencor by 10.7% during the fourth quarter. Prudential Financial Inc. now owns 70,715 shares of the biopharmaceutical company's stock worth $1,625,000 after acquiring an additional 6,810 shares during the period. Geode Capital Management LLC boosted its position in Xencor by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company's stock worth $29,273,000 after purchasing an additional 17,658 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Xencor by 18.6% in the 3rd quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company's stock valued at $3,387,000 after purchasing an additional 26,473 shares during the period.

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.