Xencor (NASDAQ:XNCR) Shares Down 5.3% - Time to Sell?

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s share price fell 5.3% during trading on Wednesday . The stock traded as low as $11.33 and last traded at $11.20. 141,268 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 571,206 shares. The stock had previously closed at $11.82.

Analysts Set New Price Targets

Several research firms recently weighed in on XNCR. StockNews.com cut Xencor from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Wells Fargo & Company dropped their target price on Xencor from $37.00 to $33.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Piper Sandler upgraded shares of Xencor from a "neutral" rating to an "overweight" rating and upped their price target for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.38.

Xencor Stock Down 2.4 %

The company has a market cap of $791.29 million, a P/E ratio of -3.51 and a beta of 0.74. The stock has a 50-day moving average of $15.56 and a 200 day moving average of $20.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

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

Institutional Investors Weigh In On Xencor

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Xencor by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company's stock worth $184,239,000 after buying an additional 418,040 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Xencor by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,036,412 shares of the biopharmaceutical company's stock worth $92,758,000 after acquiring an additional 107,350 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Xencor by 147.3% in the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company's stock worth $62,748,000 after acquiring an additional 1,858,440 shares during the last quarter. TCG Crossover Management LLC boosted its stake in shares of Xencor by 1.0% in the 4th quarter. TCG Crossover Management LLC now owns 2,452,138 shares of the biopharmaceutical company's stock valued at $56,350,000 after purchasing an additional 25,000 shares in the last quarter. Finally, RTW Investments LP boosted its stake in shares of Xencor by 317.9% in the 4th quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company's stock valued at $55,218,000 after purchasing an additional 1,827,883 shares in the last quarter.

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.