Xencor (NASDAQ:XNCR) Trading Down 9.3% - Here's Why

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s stock price fell 9.3% on Friday . The stock traded as low as $21.25 and last traded at $21.25. 162,225 shares were traded during trading, a decline of 63% from the average session volume of 438,085 shares. The stock had previously closed at $23.43.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on XNCR shares. BMO Capital Markets reissued an "outperform" rating and issued a $34.00 price objective (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on Xencor from $31.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, September 26th. Wedbush reaffirmed an "outperform" rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. Finally, Wells Fargo & Company initiated coverage on Xencor in a research note on Thursday, December 12th. They set an "overweight" rating and a $37.00 target price on the stock. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $36.56.

Xencor Stock Down 12.1 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The firm has a market capitalization of $1.44 billion, a PE ratio of -6.44 and a beta of 0.72. The company has a fifty day moving average price of $24.19 and a 200-day moving average price of $20.98.

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

Insider Buying and Selling

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the sale, the director now owns 9,140 shares of the company's stock, valued at approximately $247,054.20. This represents a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the transaction, the vice president now directly owns 200,104 shares of the company's stock, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,050 shares of company stock worth $3,277,609. Corporate insiders own 5.23% of the company's stock.

Institutional Investors Weigh In On Xencor

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in Xencor in the 2nd quarter valued at $36,000. GAMMA Investing LLC grew its holdings in shares of Xencor by 31.0% in the fourth quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 508 shares during the last quarter. KBC Group NV increased its stake in Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company's stock worth $63,000 after buying an additional 1,213 shares during the period. Rockefeller Capital Management L.P. bought a new stake in Xencor during the 3rd quarter valued at about $205,000. Finally, XTX Topco Ltd bought a new stake in Xencor during the 2nd quarter valued at about $196,000.

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.